MARKET COMMENTARY AND GSAM STRATEGY Duration The US economy added 850,000 jobs in June, an upside surprise relative to consensus expectations for a 720,000 increase, although the unemployment rate rose

Wall Street is packaging leveraged loans into bonds at a record pace, stretching bankers, lawyers and debt graders to the limit while showing no signs of slowing. Money managers that

Goldman Sachs Group Inc. and JPMorgan Chase & Co. are ditching safeguards on the credit lines they extend to managers of collateralized loan obligations, as they seek to defend their

One of Wall Street’s hottest hedge funds has pulled in a quarter of a billion dollars from a small group of investors seeking out returns from an obscure corner of

Active management, structural protections and refinancing have aided the resilience of collateralised loan obligations amid a challenging period for structured finance. The increasing embrace of environmental, social and governance factors

If you listen to people in the trenches, the collateralized loan obligation market is having a great year. The amount of bonds outstanding is now approaching $1 trillion globally, according

Sales of securities backed by bundles of risky corporate loans are hitting records, lifted by a recovering economy and demand from yield-starved investors. Issuance of new collateralized loan obligations, which buy

On the back of the exceptionally heavy supply in Q1, US CLO spreads softened, but reversed back to one-year tights at the end of last week. The move was driven