Guggenheim Investments’ Post

This new BPI post refutes a recent Bloomberg editorial that compares current Synthetic Risk Transfers to pre-2008 private-label MBS. SRTs are typically structured as fully funded transactions, where banks receive the entire protection amount in cash at inception, which eliminates counterparty credit risk. Banks select the reference assets in the loan pool not because they are high-risk, but because regulatory capital charges overstate the risk of low-risk assets. https://lnkd.in/ezVTtiHj Chart source: PIMCO (SRT Market Update, PIMCO Capital Markets)

Only 4 Days Left to Register! Our highly anticipated Credit Market Snapshot Webinar is happening this Tuesday, and you won’t want to miss it! 🌍 Dive into: ✅ Post-election trends across the US, Europe, and LatAm ✅ Emerging opportunities in global credit markets ✅ Forecasted issuance volumes and key regulatory shifts This is your chance to gain exclusive insights and stay ahead of the curve in today’s evolving bond market landscape. ⏳ Time is running out – secure your FREE spot now! 👉 Register here: http://spr.ly/6041t3zZ9 #IGM #Credit #BondMarket #Regulation #Issuance #WebinarAlert

With spreads tightening and strong investor appetite supporting credit issuance, how might the markets be impacted? In our latest Credit Risk Monitor, Global Head of Fixed Income Jim Cielinski shares his thoughts on credit markets and how at this point in the cycle, we may see greater return dispersion within sectors. Listen to Jim share his topline thoughts below and see the latest report here: https://bit.ly/3wwjrKf #JHI #JanusHenderson #BrighterFutureTogether #JHInsights #JHInstitutional #FixedIncome #Credit #CreditRiskMonitor #MarketingCommunication #UK For professionals only. Capital at risk. 

What is the New Normal? A world of interconnected macro risks: An end to the era of exceptionally low interest rates with stubborn inflation delaying rate cuts - modest growth, and geopolitical risks looming large. How are issuers, sponsors, the banking community, and the collateralized loan obligation (CLO) market navigating this new environment? Join our experts in person in London on Tuesday 14 May to explore key issues from private credit to deal structures, credit quality, leveraged buyouts, defaults and more. Our graphics below show some highlights and guest speakers. See the full agenda and register here: https://mdy.link/3UDJNBM

Investors learned the importance of #alternativecredit in portfolios during the interest rate run-up — and accompanying market volatility — that began in early 2022. Nuveen’s alternative credit market insight looks at the main factors to consider across segments for 2024.

The private credit market is undergoing significant transformation as it seeks to integrate more deeply into public markets. These developments are drawing increased scrutiny from regulators and raising questions about transparency and liquidity. While the potential for democratizing access to private credit is significant, ensuring robust regulatory frameworks and market discipline will be key to navigating the challenges ahead. Stout collaborates with clients across all alternative asset classes, including private credit, to navigate the complexities of the portfolio valuation process while effectively managing regulatory and other risks. Learn more here: https://hubs.ly/Q02YZRfM0

How are significant shifts in European Significant Risk Transfer impacting the landscape of structured credit markets? Managing Director Robert Bradbury speaks with Structured Credit Investor's US Editor, Simon Boughey to discuss the influence on pricing and market dynamics. In the interview, he highlights: 𝗤𝘂𝗮𝗹𝗶𝘁𝘆 𝗢𝘃𝗲𝗿 𝗤𝘂𝗮𝗻𝘁𝗶𝘁𝘆: The trend towards higher quality underlying assets and more standardised features in recent issuances, as banks focus on core priorities ahead of Basel 3.1. 𝗠𝗮𝗿𝗸𝗲𝘁 𝗧𝗶𝗴𝗵𝘁𝗲𝗻𝗶𝗻𝗴: A broad-based tightening in pricing has been observed, driven by various factors including new capital influx and increased supply due to regulatory changes. 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝗼𝗻: Some long-standing investors are holding back amid a wave of new entrants, assessing how sustainable this new capital will be against potential market shifts. 𝗨𝗦 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲: The emergence of the US SRT market introduces new approaches and investors, raising awareness and potentially impacting European market dynamics. Watch the full interview (available to SCI subscribers) here: https://okt.to/LezKCR #Amon #Securitisation #RiskTransfer #StructuredCredit

Fixed income markets are moved by news too. To harness this momentum, our 𝐂𝐫𝐞𝐝𝐢𝐭 𝐍𝐞𝐰𝐬 𝐬𝐢𝐠𝐧𝐚𝐥𝐬 𝐥𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐧𝐞𝐰𝐬 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐨𝐯𝐞𝐫 120 𝐜𝐫𝐞𝐝𝐢𝐭-𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐞𝐯𝐞𝐧𝐭𝐬, including analyst ratings, credit rating changes, and price movements. Backtested across credit universes like US investment-grade and high-yield, with holding periods ranging from daily to monthly, the framework. captured alpha from multiple, complementary sources. Learn more in our executive brief: https://lnkd.in/dDSvwjnS

The risk-on-tightening dynamic in credit spreads stalled at the end of Q1. Now, we're seeing spreads widen, accompanied by an upward trend in yields on riskier corporate bonds. Could this be a signal for potential weakness in equity markets heading into Q3? #credit #creditrisk #credityields #corporatebonds #equitymarkets #financialmarkets

Electronification in US Credit continues… Bloomberg Electronic Trading Solutions continues to innovate and connect clients with liquidity pools through multiple protocols (single security streams, list trading, RFQ, anonymous A2A, and Portfolio baskets)..