Credit tightens as well-received new issues of global debt drive inflows


July saw credit markets tightening, with the high yield index posting its best monthly return since September 2009 driving positive inflows into credit and well received global debt new issuance drove credit in the latter part of the month. The Barclays High Yield Index ended the month at 642 basis points over treasuries.

Orbita Capital Return Strategy, now owned by Aberdeen Asset Management, was up 1.26% for July, taking three-month numbers to 0.52%, while Culross Arbitrage was up 1.28% to put three-month figures at -0.81%. RMB Global Spread Capture was up 0.02%, leaving three-month figures at -0.91%, and Crestline