Bloomberg reports that at least seven new-issue CLOs are currently marketing, with January new-issue volume at nearly $9 billion. The rise in sales comes as risk premiums for new transactions have tightened to pre-pandemic levels, prompting managers to market new deals at favorable terms and refinance and reset existing bonds at cheaper costs. [Bloomberg; Feb.
The Wall Street Journal analyzes the challenges and prospects of Gamestop Corp., AMC Entertainment Holdings Inc., Bed Bath & Beyond Inc., Nokia Corp., and Blackberry Ltd. In recent weeks, investors have bid up the share prices of these companies, as hedge funds and short sellers have bet against them. [WSJ; Jan. 31, 2021]