episode_id
stringlengths
6
6
portfolio_id
stringlengths
6
6
as_of_date
stringdate
2024-01-06 00:00:00
2025-12-26 00:00:00
regime
stringclasses
4 values
ig_spread_bps
int64
65
260
hy_spread_bps
int64
280
850
unemployment_pct
float64
3.2
8.5
gdp_yoy_pct
float64
-2
3
nav_usd
int64
50.1M
3B
sector_exposure_pct
stringlengths
31
94
region_exposure_pct
stringlengths
42
45
rating_mix_pct
stringlengths
27
49
avg_pd_pct
float64
0.4
7.5
avg_lgd_pct
float64
20
65
var_95_bps
int64
80
400
stress_loss_bps
int64
120
710
drawdown_60d_pct
float64
2
23.7
policy_max_name_pct
float64
2
4
policy_max_sector_pct
int64
20
35
policy_max_region_pct
int64
35
55
policy_hy_cap_pct
int64
20
35
breach_sector_flag
bool
2 classes
breach_region_flag
bool
2 classes
breach_hy_cap_flag
bool
2 classes
breach_var_flag
bool
2 classes
ews_dsr_jump_pp
float64
-0.5
2.5
ews_delinq30d_jump_pp
float64
-0.3
1.8
ews_rating_drift_notches
float64
-0.4
0.6
ews_sector_alerts
stringclasses
426 values
action_type
stringclasses
5 values
action_payload
stringlengths
23
41
expected_loss_delta_bps
int64
-60
20
expected_yield_delta_bps
int64
-25
45
execution_venue
stringclasses
5 values
execution_mode
stringclasses
4 values
slippage_bps
int64
0
12
fill_ratio_pct
int64
0
100
pnl_30d_bps
int64
-220
457
credit_loss_90d_bps
int64
-480
210
self_correction_trigger
stringclasses
4 values
self_correction_action
stringclasses
4 values
self_correction_reason
stringclasses
5 values
post_correction_var_bps
int64
90
260
audit_notes
stringclasses
5 values
C07201
CR7143
2024-08-04
Tightening
131
504
4.8
1.6
2,290,852,768
Comm:15.0;Financials:24.3;Consumer:34.3;Tech:26.4
US:65.0;EU:15.3;APAC:10.0;EMEA:4.4;LATAM:5.3
BBB:10.1;CCC:22.1;BB:13.4;A:18.2;AA:17.0;B:19.1
1.67
26.2
81
467
18
4
35
35
30
false
true
true
false
-0.27
1.28
-0
Materials:EW
Hedge
iTraxx_XOVER: +128bps notional
-55
12
DealerC
DealerAxed
6
97
-128
-385
HYCap>limit
Hedge
High-yield share above policy cap
201
Rotate into defensive sectors
C07202
CR1229
2025-04-11
Recovery
131
449
5.2
0.3
2,703,607,768
Utilities:29.8;RealEstate:21.9;Healthcare:27.8;Comm:10.0;Financials:10.4
US:62.6;EU:12.1;APAC:14.3;EMEA:3.0;LATAM:7.9
A:20.1;B:31.1;CCC:29.2;AAA:19.5
3.62
56.1
161
442
12.3
3.5
30
35
35
false
true
true
false
0.73
1.22
-0.25
RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-60
2
DealerC
Electronic
1
87
275
-9
HYCap>limit
Reduce
High-yield share above policy cap
212
Tighten HY exposure bands
C07203
CR3032
2025-10-25
Recovery
132
635
5.9
1.2
2,328,836,689
Healthcare:28.7;RealEstate:28.1;Financials:30.6;Energy:12.6
US:59.2;EU:16.9;APAC:9.8;EMEA:9.9;LATAM:4.2
CCC:28.7;BB:11.2;AAA:25.8;A:34.2
7.02
30.5
247
129
2.4
4
30
35
30
true
true
true
true
-0.31
0.39
0.26
Financials:EW
Hedge
iTraxx_MAIN: +55bps notional
-14
-25
ECN1
All2All
12
95
-56
-160
VAR>budget
Hedge
Portfolio VAR above budget
124
Tighten HY exposure bands
C07204
CR3888
2025-07-03
Calm
110
384
3.2
2.3
2,419,511,921
Consumer:34.2;Healthcare:14.9;Industrials:18.3;Financials:32.6
US:65.0;EU:16.4;APAC:7.2;EMEA:8.5;LATAM:2.9
CCC:12.6;B:26.0;BB:25.5;AA:10.8;BBB:25.1
2.51
60
194
219
12.3
2.5
20
35
20
true
true
true
false
1.34
0.32
0.2
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-32
-16
DealerB
DealerAxed
10
89
97
-34
HYCap>limit
Hedge
High-yield share above policy cap
206
Reviewed by risk; hedges staggered
C07205
CR8984
2024-12-06
Calm
73
377
4.1
1.9
1,063,847,298
Materials:27.6;Utilities:25.7;Consumer:19.8;Financials:26.9
US:60.4;EU:10.4;APAC:13.9;EMEA:9.5;LATAM:5.8
BBB:28.8;CCC:9.8;AAA:22.8;BB:9.0;A:19.1;AA:10.6
3.73
60.3
200
495
16.8
2.5
30
35
25
false
true
false
false
0.14
-0.12
-0.28
null
Hedge
iTraxx_MAIN: +143bps notional
-26
-8
ECN1
All2All
0
91
38
-137
Region>limit
Reduce
Regional concentration above limit
143
Tighten HY exposure bands
C07206
CR0206
2024-09-13
Recovery
138
457
6.2
0.9
1,318,536,471
Energy:21.8;Healthcare:20.3;Tech:22.3;Materials:13.1;Financials:22.4
US:67.1;EU:6.4;APAC:13.6;EMEA:9.0;LATAM:3.9
B:35.5;AA:9.7;AAA:27.9;CCC:26.9
4.31
64.5
275
204
15.9
4
25
55
20
false
true
true
true
0.11
1.64
-0.3
null
Hedge
Treasury_Futures: +102bps notional
14
41
DealerB
Electronic
7
96
-67
-83
Region>limit
Reduce
Regional concentration above limit
202
Tighten HY exposure bands
C07207
CR6914
2024-11-29
Tightening
103
471
4
0.7
1,142,918,619
Consumer:7.3;Energy:30.8;Tech:13.7;Healthcare:17.6;Materials:30.6
US:54.0;EU:17.9;APAC:10.2;EMEA:11.6;LATAM:6.3
B:16.4;BB:15.8;A:39.8;BBB:16.0;CCC:11.9
2.75
53.1
99
157
16.2
2
35
55
25
false
false
true
false
-0.47
-0.05
0.06
Industrials:EW
Hedge
Treasury_Futures: +112bps notional
-34
26
ECN1
DealerAxed
9
92
-6
-28
VAR>budget
Hedge
Portfolio VAR above budget
201
Reviewed by risk; hedges staggered
C07208
CR4494
2025-12-20
Calm
111
413
3.5
2
740,554,593
Consumer:14.6;Energy:15.7;RealEstate:37.4;Financials:18.1;Industrials:14.3
US:61.9;EU:12.5;APAC:7.2;EMEA:11.6;LATAM:6.8
A:19.5;BB:14.9;B:16.3;AA:16.4;AAA:21.2;BBB:11.6
5.14
28.8
196
451
2.3
3.5
30
55
25
true
true
true
false
1.2
0.61
0.19
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-35
-15
DealerC
Electronic
11
93
279
46
Region>limit
Hedge
Regional concentration above limit
216
Defer adds pending macro print
C07209
CR6644
2024-12-14
Tightening
152
473
4.1
1.5
2,304,057,095
Tech:45.4;RealEstate:23.0;Financials:31.7
US:66.4;EU:13.2;APAC:6.7;EMEA:11.7;LATAM:2.0
CCC:10.3;AAA:29.1;AA:28.2;BB:15.7;B:16.8
6.86
39.4
272
182
17.5
4
25
55
35
true
true
true
true
1.76
1.12
0.35
RealEstate:EW;Healthcare:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-6
15
DealerA
Electronic
10
93
322
-407
HYCap>limit
Rotate
High-yield share above policy cap
134
Reviewed by risk; hedges staggered
C07210
CR6935
2025-01-16
Calm
72
405
3.8
2.6
1,775,474,051
Financials:18.8;Comm:13.7;Healthcare:20.7;Industrials:13.6;Tech:17.7;Energy:15.4
US:61.5;EU:16.7;APAC:8.6;EMEA:8.6;LATAM:4.7
BB:13.3;AAA:9.5;B:63.5;BBB:13.7
5.92
53.3
249
365
11.3
3.5
20
35
20
true
true
true
true
0.96
1.57
0
Financials:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-51
45
DealerA
RFQ
10
89
233
-408
VAR>budget
Hedge
Portfolio VAR above budget
216
Reviewed by risk; hedges staggered
C07211
CR0919
2024-04-07
Calm
100
324
4.1
2.6
2,796,923,516
Energy:15.1;Utilities:17.3;RealEstate:27.1;Healthcare:10.6;Tech:11.9;Materials:18.0
US:68.3;EU:11.3;APAC:11.5;EMEA:7.2;LATAM:1.6
A:31.8;CCC:16.6;AA:38.1;BB:13.6
0.56
28.7
258
272
8
2
30
45
30
false
true
true
true
0.85
-0.01
0.03
Utilities:EW
Hedge
CDX_HY: +196bps notional
-47
30
ECN2
All2All
2
90
316
40
Sector>limit
Hedge
Sector concentration above limit
90
Defer adds pending macro print
C07212
CR6537
2025-10-16
Stress
214
602
8
0.4
236,983,905
Materials:12.8;Tech:44.5;Financials:42.7
US:74.6;EU:9.1;APAC:6.9;EMEA:5.7;LATAM:3.6
B:21.0;AAA:16.8;BB:44.7;BBB:17.6
3.97
38.1
370
467
5.6
2.5
35
35
35
true
true
true
true
0.73
0.6
-0.21
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-25
2
DealerC
RFQ
8
97
-93
-353
VAR>budget
Hedge
Portfolio VAR above budget
115
Escalate watchlist names
C07213
CR7810
2024-01-16
Calm
91
314
3.8
2.4
990,220,618
Energy:30.8;Materials:17.6;Industrials:21.5;Financials:30.0
US:69.2;EU:10.5;APAC:10.2;EMEA:6.0;LATAM:4.0
BBB:17.6;BB:19.1;AA:21.9;CCC:10.8;B:18.1;A:12.5
5.48
42.8
200
381
7.8
3.5
30
35
25
true
true
true
false
2.42
0.42
-0.3
null
Hedge
iTraxx_MAIN: +74bps notional
-32
-17
DealerC
Electronic
9
93
-51
-148
Region>limit
Reduce
Regional concentration above limit
148
Escalate watchlist names
C07214
CR5133
2025-01-11
Calm
90
368
4.3
1.7
2,238,674,624
Energy:33.7;Healthcare:10.0;Utilities:14.8;Consumer:32.6;Comm:8.9
US:65.6;EU:19.2;APAC:8.1;EMEA:6.6;LATAM:0.4
BB:21.0;BBB:26.9;AA:24.7;AAA:16.3;B:11.0
3.68
24.3
276
282
9.4
4
35
45
30
false
true
true
true
0.46
-0.24
0.46
Industrials:EW;Tech:EW
Hedge
CDX_IG: +64bps notional
-22
18
DealerA
RFQ
3
92
277
-391
Region>limit
Rotate
Regional concentration above limit
104
Reviewed by risk; hedges staggered
C07215
CR1870
2025-01-28
Calm
102
361
4.4
1.9
1,058,619,220
Utilities:16.5;Financials:7.5;Industrials:15.3;Materials:29.4;Consumer:8.2;Comm:23.1
US:70.4;EU:7.5;APAC:11.0;EMEA:6.6;LATAM:4.5
AAA:21.9;BBB:12.7;AA:23.0;A:16.7;CCC:25.8
1.26
57
262
132
9.5
2.5
30
55
25
false
true
true
true
0.11
1.66
-0.31
RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-27
14
DealerB
Electronic
11
94
266
-229
VAR>budget
Reduce
Portfolio VAR above budget
230
Rotate into defensive sectors
C07216
CR2969
2025-01-08
Calm
94
333
3.4
1.8
1,953,446,765
Healthcare:26.0;Utilities:18.5;Industrials:21.8;Comm:14.5;Energy:19.3
US:66.0;EU:16.1;APAC:12.1;EMEA:5.0;LATAM:0.8
B:16.3;BBB:20.1;BB:22.0;AA:5.9;A:16.6;AAA:19.1
3.77
30.7
112
149
12.7
3.5
20
45
30
true
true
true
false
-0.06
1.46
0
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-27
10
ECN1
All2All
1
97
197
117
HYCap>limit
Reduce
High-yield share above policy cap
130
Reviewed by risk; hedges staggered
C07217
CR1995
2025-06-22
Tightening
139
356
4.9
1.4
312,926,490
Energy:24.2;Materials:17.5;Healthcare:19.1;RealEstate:39.1
US:74.4;EU:13.4;APAC:6.0;EMEA:5.7;LATAM:0.4
CCC:22.6;AAA:21.5;BB:22.2;BBB:23.6;A:10.0
3.64
30.6
145
297
11.8
3.5
25
55
25
true
true
true
false
0.78
1.21
0.22
RealEstate:EW;Energy:EW
Hedge
Options_Payer: +66bps notional
-17
42
DealerC
RFQ
5
98
-164
-78
HYCap>limit
Hedge
High-yield share above policy cap
237
Reviewed by risk; hedges staggered
C07218
CR0853
2025-07-15
Stress
204
733
6
-1.1
1,725,330,745
Consumer:10.6;Tech:11.9;RealEstate:39.2;Energy:38.4
US:60.6;EU:9.7;APAC:14.5;EMEA:7.6;LATAM:7.6
CCC:22.6;BB:23.3;B:12.5;BBB:21.8;AA:19.7
1.57
55.1
257
345
19.9
2.5
30
55
25
true
true
true
true
0.45
1.38
0.11
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-42
44
DealerC
RFQ
3
87
-205
-279
HYCap>limit
Rotate
High-yield share above policy cap
100
Escalate watchlist names
C07219
CR2386
2025-12-10
Stress
147
616
6.2
-0.3
1,781,639,262
Materials:31.8;Tech:32.0;Industrials:36.3
US:74.3;EU:6.3;APAC:5.8;EMEA:7.5;LATAM:6.1
CCC:25.6;AA:21.0;A:14.2;BB:16.1;B:23.1
5.7
34.1
237
595
22.8
2
25
45
35
true
true
true
true
0.7
0.81
-0.24
RealEstate:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-27
27
DealerA
Electronic
12
89
278
-385
Sector>limit
Rotate
Sector concentration above limit
231
Escalate watchlist names
C07220
CR4974
2024-11-27
Stress
199
737
5.2
-1.3
2,965,096,811
Materials:34.7;Healthcare:35.2;Financials:10.8;Energy:19.3
US:60.4;EU:16.0;APAC:12.0;EMEA:10.1;LATAM:1.5
BB:17.9;AAA:16.3;AA:14.4;A:18.0;BBB:10.7;B:22.7
3.32
53.4
186
463
8
2.5
25
45
20
true
true
true
false
0.97
0.43
-0.09
null
Rotate
From Energy -1.0% to Utilities +1.0%
-37
25
DealerC
RFQ
8
98
169
-404
VAR>budget
Hedge
Portfolio VAR above budget
242
Reviewed by risk; hedges staggered
C07221
CR2414
2024-02-15
Tightening
108
485
4.3
1.9
1,254,221,685
Industrials:22.0;Consumer:14.9;Financials:37.8;Comm:25.3
US:59.7;EU:17.3;APAC:12.7;EMEA:6.8;LATAM:3.5
BBB:18.7;B:44.6;BB:16.9;A:19.9
4.22
31.2
126
423
4.2
2.5
30
55
25
true
true
true
false
1.51
-0.23
-0.19
null
Hedge
CDX_IG: +111bps notional
7
-1
DealerB
DealerAxed
9
90
118
-157
HYCap>limit
Reduce
High-yield share above policy cap
91
Rotate into defensive sectors
C07222
CR1654
2025-04-08
Tightening
134
447
4
1.7
1,649,985,566
Industrials:24.4;Tech:20.9;Comm:25.4;RealEstate:29.3
US:57.0;EU:13.6;APAC:12.8;EMEA:8.8;LATAM:7.8
CCC:24.6;BB:14.3;AAA:32.4;AA:28.7
7.42
22.8
158
386
3.6
4
30
35
30
false
true
true
false
1.68
0.03
0.45
Healthcare:EW
Hedge
iTraxx_XOVER: +144bps notional
0
12
DealerB
RFQ
2
93
102
-47
HYCap>limit
Rotate
High-yield share above policy cap
197
Escalate watchlist names
C07223
CR0916
2025-06-01
Recovery
102
571
5
-0
2,390,850,009
Tech:14.7;Industrials:30.5;Consumer:20.6;Financials:11.0;Utilities:14.6;Materials:8.5
US:57.8;EU:16.0;APAC:13.2;EMEA:7.9;LATAM:5.1
CCC:16.2;A:14.0;AAA:17.1;B:8.7;AA:24.8;BBB:19.1
3.3
24.2
212
220
13.6
2
25
55
25
true
true
false
true
0.64
0.9
-0.38
null
Hedge
SingleName_CDS: +146bps notional
-48
-8
DealerA
DealerAxed
4
96
-62
-306
HYCap>limit
Reduce
High-yield share above policy cap
259
Rotate into defensive sectors
C07224
CR1911
2024-05-11
Recovery
171
648
5.1
0
2,542,231,186
Consumer:39.8;Comm:15.4;Tech:30.9;Healthcare:13.8
US:62.2;EU:12.9;APAC:16.3;EMEA:6.2;LATAM:2.5
BB:38.6;BBB:25.9;B:11.0;AA:24.5
3.84
37.1
218
386
12.5
3
30
35
30
true
true
true
true
1.86
1.11
-0.28
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-41
-20
ECN2
Electronic
4
100
-24
-472
VAR>budget
Hedge
Portfolio VAR above budget
110
Escalate watchlist names
C07225
CR8854
2024-03-09
Stress
179
640
6.8
0
1,984,018,049
Tech:9.7;Utilities:26.1;Materials:14.5;Consumer:24.7;Comm:25.0
US:64.0;EU:6.3;APAC:15.3;EMEA:12.3;LATAM:2.1
CCC:6.8;BB:6.0;AA:35.8;AAA:37.9;BBB:13.5
1.15
30.7
157
533
14.3
4
20
45
35
true
true
false
false
1.26
0.94
0.19
Industrials:EW
Hedge
CDX_HY: +128bps notional
-30
-3
DealerA
All2All
3
95
69
-223
Sector>limit
Reduce
Sector concentration above limit
145
Reviewed by risk; hedges staggered
C07226
CR8230
2025-02-09
Tightening
100
520
4.3
0.7
654,594,313
Materials:17.8;Utilities:23.3;Comm:19.8;Consumer:30.1;Tech:8.9
US:67.1;EU:9.0;APAC:14.6;EMEA:5.9;LATAM:3.3
BBB:22.4;BB:15.2;B:12.3;A:24.0;CCC:10.4;AAA:15.8
6.77
36.9
134
246
4.6
3
30
35
25
true
true
true
false
-0.41
1.58
0.07
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-14
-22
DealerB
RFQ
7
92
41
-283
HYCap>limit
Hedge
High-yield share above policy cap
162
Tighten HY exposure bands
C07227
CR4683
2025-06-24
Recovery
113
480
5
-0.4
751,813,838
Materials:35.6;Consumer:34.5;Comm:29.9
US:63.4;EU:17.3;APAC:11.2;EMEA:7.2;LATAM:0.8
A:22.2;AA:18.2;B:22.1;AAA:19.3;CCC:18.2
6.35
45.3
135
227
5.1
3.5
30
55
35
true
true
true
false
2.15
0.96
0.14
null
Hedge
iTraxx_XOVER: +109bps notional
-46
-19
DealerA
Electronic
0
89
167
-338
Region>limit
Hedge
Regional concentration above limit
210
Tighten HY exposure bands
C07228
CR5656
2024-12-22
Tightening
100
463
4.6
1.7
875,724,284
Industrials:15.2;Financials:20.9;Tech:22.6;Materials:41.3
US:69.1;EU:7.4;APAC:12.7;EMEA:9.4;LATAM:1.5
A:12.8;B:11.0;AAA:28.9;BBB:24.9;BB:10.5;CCC:11.9
3.29
62.5
263
249
11.1
3
20
45
20
true
true
true
true
-0.03
-0.12
-0.03
Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-23
35
DealerA
All2All
9
90
280
-15
HYCap>limit
Hedge
High-yield share above policy cap
204
Reviewed by risk; hedges staggered
C07229
CR4507
2025-07-17
Calm
92
293
3.4
2
1,974,657,851
Materials:7.2;Healthcare:23.8;Comm:34.5;Energy:16.0;Tech:10.5;Financials:8.0
US:58.5;EU:19.1;APAC:10.4;EMEA:5.6;LATAM:6.4
A:25.2;B:15.1;AAA:18.4;BBB:21.9;CCC:19.4
6.91
29.4
277
380
9
2
30
35
25
true
true
true
true
0.47
0.18
0.4
null
Rotate
From Energy -1.0% to Utilities +1.0%
-55
-19
ECN2
DealerAxed
7
96
-42
-300
Sector>limit
Reduce
Sector concentration above limit
199
Defer adds pending macro print
C07230
CR6883
2024-10-16
Recovery
179
592
5.4
0.9
565,322,717
Financials:14.4;Consumer:24.8;Healthcare:16.2;Tech:44.6
US:67.9;EU:13.7;APAC:9.0;EMEA:6.2;LATAM:3.3
CCC:14.5;BBB:44.2;BB:6.9;AA:14.3;AAA:20.2
5.92
52.9
228
170
2.7
2.5
30
45
30
true
true
false
true
0.64
1.09
0.03
Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-44
-18
ECN2
Electronic
5
92
145
-284
Region>limit
Hedge
Regional concentration above limit
259
Tighten HY exposure bands
C07231
CR1566
2025-08-08
Tightening
132
394
5.1
0.7
379,687,134
Industrials:25.9;Materials:33.4;Tech:40.8
US:67.2;EU:10.8;APAC:7.8;EMEA:7.5;LATAM:6.6
AAA:24.6;AA:23.3;BB:11.7;A:40.3
5.16
61
214
514
7
3
35
45
20
true
true
false
true
1.97
1.07
-0.2
Comm:EW
Hedge
Options_Payer: +62bps notional
-14
9
ECN1
RFQ
10
87
-150
-268
Sector>limit
Rotate
Sector concentration above limit
199
Defer adds pending macro print
C07232
CR7038
2025-12-12
Tightening
141
512
4.6
1.5
922,534,806
Utilities:21.6;Industrials:37.9;Consumer:17.8;Financials:22.6
US:58.3;EU:16.7;APAC:11.4;EMEA:9.2;LATAM:4.4
AA:23.7;B:9.1;BB:23.8;AAA:20.1;CCC:14.8;A:8.5
1.34
59.1
263
143
9.7
3.5
35
35
35
true
true
true
true
0.54
1.56
0.47
Industrials:EW
Hedge
Options_Payer: +132bps notional
-55
-9
DealerB
Electronic
6
96
180
-100
HYCap>limit
Hedge
High-yield share above policy cap
248
Tighten HY exposure bands
C07233
CR1523
2025-04-16
Recovery
122
592
4.5
0.1
659,902,196
Industrials:10.0;RealEstate:14.7;Utilities:30.2;Energy:26.1;Comm:19.0
US:70.0;EU:13.5;APAC:5.6;EMEA:7.2;LATAM:3.7
A:22.9;BBB:16.2;CCC:17.6;AA:20.3;AAA:23.0
2.4
49.3
189
236
7.6
2.5
25
55
25
true
true
false
false
-0.15
1.79
0.54
Utilities:EW;Energy:EW
Hedge
Options_Payer: +157bps notional
9
5
ECN1
RFQ
1
98
-115
-126
Sector>limit
Reduce
Sector concentration above limit
106
Reviewed by risk; hedges staggered
C07234
CR6717
2024-12-27
Stress
257
807
7.9
-1
2,521,616,324
Tech:8.5;Energy:24.6;Financials:15.9;Utilities:22.5;RealEstate:28.5
US:73.1;EU:7.7;APAC:10.9;EMEA:5.1;LATAM:3.1
B:6.8;AAA:26.8;AA:22.5;BB:13.4;CCC:30.5
7.26
49.6
327
528
12
2
20
35
35
true
true
true
true
1.61
1.44
0.28
Consumer:EW
Hedge
Treasury_Futures: +105bps notional
-57
-8
DealerC
Electronic
8
88
238
78
Sector>limit
Hedge
Sector concentration above limit
229
Escalate watchlist names
C07235
CR5747
2024-06-08
Tightening
95
484
4.9
1.4
268,181,253
Healthcare:22.0;Energy:41.2;Tech:36.8
US:68.2;EU:5.9;APAC:12.4;EMEA:11.5;LATAM:2.0
BB:17.5;A:33.5;AA:43.6;B:5.5
6.41
48.1
238
252
4.7
3
25
45
30
true
true
false
true
1.6
1.3
0.44
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-46
-10
DealerC
DealerAxed
12
93
-68
-125
HYCap>limit
Reduce
High-yield share above policy cap
179
Rotate into defensive sectors
C07236
CR5636
2024-09-11
Calm
98
374
3.3
2.9
941,509,449
RealEstate:10.6;Materials:25.4;Utilities:27.2;Consumer:36.8
US:62.3;EU:15.6;APAC:14.5;EMEA:4.8;LATAM:2.7
BBB:27.3;A:26.4;AAA:17.4;CCC:6.9;B:12.7;BB:9.2
2.18
40.9
252
514
9.2
3.5
20
45
30
true
true
false
true
1.71
0.99
-0.06
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-45
-12
ECN2
Electronic
2
86
-38
-361
Sector>limit
Hedge
Sector concentration above limit
107
Defer adds pending macro print
C07237
CR8321
2025-07-12
Recovery
173
528
4.9
1.9
992,286,658
Healthcare:15.8;Comm:13.5;Consumer:18.2;Tech:21.3;Industrials:18.6;RealEstate:12.6
US:63.7;EU:14.8;APAC:9.4;EMEA:7.5;LATAM:4.7
BB:14.3;B:20.0;AAA:15.2;CCC:17.8;BBB:16.6;A:16.1
6.15
27.3
274
348
8.6
2
30
55
35
false
true
true
true
2.48
1.26
-0.31
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-17
12
DealerC
Electronic
3
96
347
-302
Region>limit
Hedge
Regional concentration above limit
248
Escalate watchlist names
C07238
CR9740
2025-03-09
Stress
258
693
6.6
-0.4
50,133,594
Financials:13.0;Materials:16.1;Comm:13.6;Consumer:21.1;Industrials:26.6;Energy:9.6
US:69.6;EU:7.4;APAC:10.2;EMEA:8.9;LATAM:4.0
AAA:23.5;CCC:6.3;AA:7.1;A:24.9;BB:16.4;BBB:21.9
6.68
27.3
290
376
8.4
4
25
55
25
true
true
false
true
1.58
0.79
-0.35
Comm:EW
Rotate
From Energy -1.0% to Utilities +1.0%
20
26
ECN1
Electronic
1
88
410
75
Region>limit
Rotate
Regional concentration above limit
161
Defer adds pending macro print
C07239
CR8361
2024-12-06
Tightening
117
420
5
1.3
1,199,111,461
RealEstate:39.4;Financials:22.5;Materials:38.1
US:66.3;EU:13.5;APAC:12.3;EMEA:6.8;LATAM:1.1
AAA:15.2;BBB:8.9;AA:30.1;BB:17.2;A:8.8;B:19.9
2.27
30.4
252
420
8.4
2.5
30
45
20
true
true
true
true
0.98
-0.11
-0.26
null
Hedge
Options_Payer: +192bps notional
-53
36
ECN1
DealerAxed
10
86
-15
-258
VAR>budget
Reduce
Portfolio VAR above budget
205
Reviewed by risk; hedges staggered
C07240
CR4334
2025-01-30
Stress
220
608
8.1
0.1
1,620,839,474
Tech:23.8;Consumer:24.3;RealEstate:23.2;Industrials:18.6;Healthcare:10.1
US:65.7;EU:13.3;APAC:13.1;EMEA:7.8;LATAM:0.0
BB:5.2;A:43.8;BBB:24.7;AAA:26.3
3.39
50.9
277
454
18.5
2
25
45
30
false
true
false
true
0.3
0.98
0.21
null
Hedge
iTraxx_XOVER: +52bps notional
-7
-6
DealerC
RFQ
10
85
262
-269
VAR>budget
Hedge
Portfolio VAR above budget
143
Tighten HY exposure bands
C07241
CR5401
2024-12-18
Calm
102
360
4.5
1.8
720,286,579
Tech:16.7;Consumer:16.3;Industrials:26.5;Energy:24.7;Comm:15.9
US:72.7;EU:8.0;APAC:6.9;EMEA:10.1;LATAM:2.3
BB:18.2;B:20.6;AA:20.6;BBB:22.7;A:17.8
2.46
29.6
161
177
14.2
4
20
35
30
true
true
true
false
1.75
0.28
0.28
null
Rotate
From Energy -1.0% to Utilities +1.0%
-37
16
ECN2
Electronic
5
100
114
-373
HYCap>limit
Hedge
High-yield share above policy cap
117
Rotate into defensive sectors
C07242
CR9550
2025-03-04
Recovery
123
554
6.4
1.4
1,939,240,300
Industrials:14.5;Energy:15.5;Comm:23.2;Consumer:8.8;RealEstate:14.2;Utilities:23.8
US:64.0;EU:13.3;APAC:8.9;EMEA:9.4;LATAM:4.3
A:37.6;BBB:15.9;AA:28.1;B:18.4
3.46
47.4
108
474
16.9
2.5
30
55
30
false
true
false
false
-0.01
-0.25
0.31
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-21
8
ECN1
Electronic
5
95
233
-99
Sector>limit
Hedge
Sector concentration above limit
202
Rotate into defensive sectors
C07243
CR6451
2024-10-15
Stress
239
639
5.5
-1.3
2,930,128,047
Industrials:31.7;Comm:32.7;Financials:35.6
US:55.2;EU:18.3;APAC:12.9;EMEA:7.1;LATAM:6.5
AAA:16.7;BB:27.7;B:21.6;A:16.7;AA:5.4;CCC:12.0
1
23.2
315
626
11.5
2.5
20
45
30
true
true
true
true
1.58
0.15
0.16
Comm:EW
Hedge
Treasury_Futures: +191bps notional
-9
17
ECN1
DealerAxed
3
85
115
-200
HYCap>limit
Hedge
High-yield share above policy cap
145
Rotate into defensive sectors
C07244
CR4612
2025-03-17
Stress
160
796
6.2
-1.7
1,383,182,087
Comm:25.9;Financials:14.2;Materials:12.5;Industrials:11.1;Tech:20.6;Consumer:15.8
US:69.1;EU:17.7;APAC:4.7;EMEA:4.1;LATAM:4.4
BBB:23.9;AA:25.1;CCC:25.8;BB:25.2
3.93
44.4
164
340
15.8
3
30
35
30
false
true
true
false
1.08
-0.26
-0.19
Comm:EW
Hedge
CDX_HY: +193bps notional
-1
-15
ECN1
Electronic
2
91
270
-98
HYCap>limit
Hedge
High-yield share above policy cap
222
Defer adds pending macro print
C07245
CR0240
2025-04-17
Tightening
141
454
5
1.9
303,209,181
RealEstate:16.2;Comm:36.2;Consumer:47.6
US:71.9;EU:14.3;APAC:7.7;EMEA:3.7;LATAM:2.3
AA:29.8;BB:11.6;AAA:9.0;B:8.6;BBB:34.7;CCC:6.3
6.9
21.2
273
142
14.5
3
20
35
20
true
true
true
true
1.01
0.42
0.39
Tech:EW
Hedge
CDX_IG: +198bps notional
7
-5
DealerA
RFQ
1
89
48
-213
Sector>limit
Reduce
Sector concentration above limit
194
Tighten HY exposure bands
C07246
CR0159
2025-07-03
Stress
153
617
6.8
-0.5
2,539,294,981
Energy:17.7;Materials:19.1;Financials:63.2
US:70.7;EU:9.1;APAC:5.8;EMEA:7.1;LATAM:7.3
BB:28.2;BBB:24.8;AA:21.6;AAA:25.5
3.46
37
276
296
20.7
3
25
45
20
true
true
true
true
0.08
-0.22
0.53
Financials:EW
Hedge
Treasury_Futures: +182bps notional
-27
-20
DealerB
Electronic
4
88
439
-206
Region>limit
Reduce
Regional concentration above limit
222
Defer adds pending macro print
C07247
CR4062
2024-03-04
Calm
85
406
3.8
1.9
1,598,035,960
Consumer:30.9;Utilities:34.1;Materials:35.0
US:72.3;EU:16.7;APAC:6.1;EMEA:4.7;LATAM:0.3
AAA:11.7;BB:14.5;A:19.2;BBB:21.7;B:12.1;CCC:20.8
7.06
43.8
216
279
9.4
3.5
30
45
25
true
true
true
true
1.35
0.35
-0.22
Consumer:EW
Hedge
iTraxx_XOVER: +200bps notional
-34
30
DealerA
Electronic
0
86
213
-103
HYCap>limit
Reduce
High-yield share above policy cap
150
Tighten HY exposure bands
C07248
CR4379
2024-02-06
Calm
108
367
4.2
1.7
2,924,871,786
Healthcare:14.3;RealEstate:40.6;Financials:15.2;Utilities:29.9
US:63.7;EU:19.1;APAC:10.4;EMEA:4.9;LATAM:1.9
BBB:13.4;BB:30.2;A:14.0;AAA:10.8;CCC:19.2;AA:12.4
4.22
31.6
266
326
7.2
2.5
30
35
25
true
true
true
true
0.53
1.24
0.49
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-4
-10
DealerA
RFQ
5
87
11
-68
VAR>budget
Rotate
Portfolio VAR above budget
158
Escalate watchlist names
C07249
CR7064
2024-08-14
Recovery
120
530
4.8
0.1
1,793,610,004
Healthcare:18.9;RealEstate:21.1;Consumer:23.4;Comm:36.6
US:71.0;EU:7.3;APAC:9.3;EMEA:7.6;LATAM:4.9
B:9.5;A:50.0;CCC:10.0;AA:30.5
2.21
61.7
190
516
9.9
3
20
35
35
true
true
false
false
-0.27
1.42
0.28
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-21
-14
ECN1
RFQ
1
100
401
88
Sector>limit
Rotate
Sector concentration above limit
210
Defer adds pending macro print
C07250
CR6063
2024-03-22
Calm
76
295
3.6
1.6
2,796,702,146
Healthcare:20.1;Consumer:14.6;Materials:15.4;RealEstate:22.9;Financials:26.9
US:63.3;EU:17.5;APAC:6.6;EMEA:8.9;LATAM:3.6
AAA:28.8;AA:24.8;B:24.9;BBB:10.5;BB:11.0
1.39
33.7
248
196
5
2.5
30
55
35
false
true
true
true
0.03
0.38
-0.4
null
Hedge
iTraxx_MAIN: +161bps notional
-57
-9
ECN1
Electronic
11
99
258
-382
VAR>budget
Reduce
Portfolio VAR above budget
104
Escalate watchlist names
C07251
CR4149
2024-08-30
Recovery
112
650
4.6
-0.5
2,291,263,314
Healthcare:36.4;Materials:37.9;Energy:25.8
US:58.9;EU:18.3;APAC:7.3;EMEA:11.7;LATAM:3.8
BBB:14.9;A:28.0;BB:36.4;AA:20.7
5.01
54.9
267
376
7.8
2
35
45
20
true
true
true
true
0.63
0.92
-0.13
Industrials:EW
Hedge
CDX_HY: +58bps notional
-54
-19
ECN1
RFQ
7
96
-95
69
Sector>limit
PauseAdds
Sector concentration above limit
248
Reviewed by risk; hedges staggered
C07252
CR2126
2024-08-03
Stress
185
635
7.4
0.8
1,905,883,755
Tech:37.8;Consumer:30.3;Healthcare:32.0
US:58.7;EU:10.4;APAC:16.5;EMEA:6.9;LATAM:7.5
AA:28.9;AAA:21.8;BBB:23.4;BB:8.0;B:17.8
1.25
41.3
245
529
8
3.5
20
35
35
true
true
false
true
1.75
-0.14
0.43
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-54
-1
DealerC
Electronic
4
94
88
-124
Sector>limit
Rotate
Sector concentration above limit
142
Reviewed by risk; hedges staggered
C07253
CR1138
2024-02-22
Stress
248
748
6
0.6
542,690,953
Utilities:39.1;Financials:35.8;Comm:25.1
US:53.6;EU:14.0;APAC:14.0;EMEA:11.7;LATAM:6.8
BB:14.3;A:15.8;BBB:14.2;CCC:13.2;AA:9.0;B:33.6
2.22
37.4
280
596
13
2
20
45
35
true
true
true
true
1.97
0.85
0.05
Healthcare:EW
Hedge
iTraxx_MAIN: +192bps notional
20
-17
DealerC
RFQ
10
92
252
-404
Region>limit
Reduce
Regional concentration above limit
110
Tighten HY exposure bands
C07254
CR2698
2024-07-06
Calm
76
375
3.9
2.5
232,557,512
Utilities:26.3;Industrials:35.3;Consumer:38.5
US:60.7;EU:10.3;APAC:12.8;EMEA:8.5;LATAM:7.8
BBB:23.2;AA:43.6;CCC:13.1;BB:4.7;B:15.5
4.62
46.7
101
334
15
2
30
35
35
true
true
false
false
-0.13
0.11
0.49
Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-13
8
ECN1
RFQ
4
97
157
-447
VAR>budget
PauseAdds
Portfolio VAR above budget
150
Tighten HY exposure bands
C07255
CR4063
2025-09-15
Tightening
101
410
4.5
1.2
566,123,791
Comm:24.6;Financials:16.5;Healthcare:15.6;Consumer:28.6;Tech:14.9
US:69.9;EU:11.0;APAC:12.6;EMEA:5.1;LATAM:1.4
A:17.3;BBB:14.2;B:9.0;AA:14.4;BB:8.8;CCC:36.2
2.03
56.7
229
241
2.2
3.5
35
35
35
false
true
true
true
2.43
-0.16
-0.07
Utilities:EW;Industrials:EW
Hedge
iTraxx_MAIN: +122bps notional
7
-4
DealerC
Electronic
6
85
260
-38
Sector>limit
Hedge
Sector concentration above limit
110
Defer adds pending macro print
C07256
CR3876
2024-06-13
Calm
111
296
4.3
2.3
1,249,271,333
Healthcare:7.1;RealEstate:9.1;Financials:18.4;Utilities:8.2;Comm:27.8;Consumer:29.3
US:69.9;EU:8.9;APAC:10.4;EMEA:5.5;LATAM:5.4
AA:41.3;A:24.6;B:11.7;CCC:8.4;BB:14.1
5.19
61.8
185
245
7
4
30
55
30
false
true
true
false
1.45
1.13
0.41
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-26
43
DealerB
DealerAxed
0
95
-172
-324
VAR>budget
Rotate
Portfolio VAR above budget
219
Tighten HY exposure bands
C07257
CR9861
2025-01-02
Calm
89
409
3.5
2.4
477,115,448
Utilities:10.1;Financials:33.8;Energy:28.8;Tech:27.2
US:65.5;EU:16.2;APAC:7.0;EMEA:5.0;LATAM:6.3
BBB:20.3;AA:13.9;B:12.1;AAA:22.0;BB:3.6;A:28.2
6
62.1
143
327
6.8
3
20
35
35
true
true
false
false
1.07
0.44
0.11
Comm:EW;RealEstate:EW;Consumer:EW
Hedge
Treasury_Futures: +91bps notional
16
-15
DealerB
All2All
5
93
285
106
HYCap>limit
Hedge
High-yield share above policy cap
133
Defer adds pending macro print
C07258
CR9809
2024-12-31
Tightening
122
460
4.8
0.8
1,646,606,659
Energy:19.4;Tech:44.2;Consumer:36.4
US:62.7;EU:17.5;APAC:9.1;EMEA:7.8;LATAM:2.9
BB:16.0;AA:11.8;AAA:32.9;A:39.3
5.15
48.5
114
386
15.2
3
25
55
30
true
true
false
false
-0.04
-0.01
-0.26
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
9
44
DealerC
DealerAxed
5
88
93
-1
Sector>limit
Hedge
Sector concentration above limit
190
Escalate watchlist names
C07259
CR9975
2025-10-19
Tightening
111
420
4.6
0.8
2,848,451,137
Tech:24.3;Energy:28.7;Consumer:20.8;Industrials:17.2;Utilities:9.0
US:65.9;EU:11.3;APAC:11.6;EMEA:8.4;LATAM:2.9
BBB:8.4;CCC:42.6;AA:10.8;AAA:17.7;B:10.1;BB:10.4
4.37
59.9
130
357
11.1
4
25
55
35
true
true
true
false
0.63
1.2
-0.28
null
Hedge
iTraxx_XOVER: +192bps notional
-54
-14
DealerC
RFQ
1
99
-176
27
Region>limit
Rotate
Regional concentration above limit
155
Reviewed by risk; hedges staggered
C07260
CR0204
2025-01-05
Stress
170
825
7.7
-1
1,277,167,881
RealEstate:28.8;Consumer:30.4;Industrials:26.5;Comm:14.3
US:70.6;EU:9.7;APAC:5.3;EMEA:6.5;LATAM:7.8
A:35.1;CCC:5.2;BBB:24.5;AAA:35.3
4.72
27.6
155
262
6.6
4
25
55
35
true
true
false
false
0.93
0.51
0.19
RealEstate:EW
Hedge
SingleName_CDS: +95bps notional
2
33
ECN2
All2All
1
94
89
150
Region>limit
Rotate
Regional concentration above limit
258
Tighten HY exposure bands
C07261
CR3279
2025-06-25
Tightening
127
458
4.4
1.5
2,613,952,580
Industrials:25.1;Consumer:22.0;Comm:20.6;Healthcare:32.3
US:73.7;EU:9.0;APAC:5.9;EMEA:11.2;LATAM:0.3
AAA:21.1;AA:32.3;CCC:19.3;B:27.2
1.43
29.7
92
500
15.6
2
20
35
20
true
true
true
false
2.32
0.97
0.45
null
Hedge
iTraxx_MAIN: +92bps notional
4
-8
DealerB
All2All
11
89
246
-377
HYCap>limit
Hedge
High-yield share above policy cap
202
Escalate watchlist names
C07262
CR7138
2024-06-10
Calm
68
344
3.7
1.7
1,111,312,818
Healthcare:13.6;Utilities:12.3;Energy:25.5;Industrials:16.7;RealEstate:31.9
US:65.6;EU:9.2;APAC:14.1;EMEA:4.0;LATAM:7.2
B:21.0;BB:10.0;A:14.7;AA:26.3;BBB:8.6;AAA:19.3
7.47
44.3
171
437
17
4
20
35
20
true
true
true
false
2.39
0.77
-0.38
Tech:EW
Hedge
SingleName_CDS: +60bps notional
-44
-15
DealerB
RFQ
2
91
-107
38
Sector>limit
Rotate
Sector concentration above limit
187
Rotate into defensive sectors
C07263
CR0534
2025-09-03
Calm
89
359
3.7
1.8
250,332,792
Tech:20.6;Comm:22.3;RealEstate:22.9;Energy:14.4;Financials:19.9
US:75.5;EU:7.6;APAC:10.7;EMEA:5.3;LATAM:0.9
A:38.7;BB:17.8;B:12.8;CCC:30.7
6.61
52.2
91
330
5.3
3
35
45
20
false
true
true
false
0.44
-0.24
0.1
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-3
38
DealerB
Electronic
0
87
-175
59
Sector>limit
Reduce
Sector concentration above limit
227
Rotate into defensive sectors
C07264
CR8414
2024-12-10
Stress
175
680
7.6
-1.6
404,425,697
Energy:25.1;Comm:46.4;RealEstate:28.5
US:68.5;EU:9.0;APAC:6.4;EMEA:10.0;LATAM:6.0
BBB:20.1;CCC:9.1;A:38.1;AAA:32.7
6.33
46.7
299
516
10.5
2
20
55
35
true
true
false
true
1.92
0.87
0.38
Tech:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-25
34
ECN1
All2All
8
86
-9
-65
Sector>limit
Hedge
Sector concentration above limit
158
Defer adds pending macro print
C07265
CR2237
2024-06-18
Calm
93
298
3.7
1.6
2,753,024,648
Financials:15.2;Utilities:30.6;Consumer:16.9;Materials:11.1;Tech:26.1
US:60.1;EU:19.3;APAC:11.8;EMEA:4.2;LATAM:4.6
BB:7.2;CCC:34.0;AAA:30.0;BBB:28.9
1.69
37.7
225
172
11.6
2
25
45
25
true
true
true
true
0.19
1.27
-0.31
Materials:EW;Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
3
15
DealerA
All2All
0
89
-10
-30
Region>limit
Rotate
Regional concentration above limit
173
Reviewed by risk; hedges staggered
C07266
CR0249
2025-03-17
Calm
99
327
3.2
2.4
646,355,689
Energy:30.5;Materials:11.6;Consumer:11.0;Comm:23.1;Financials:23.9
US:65.7;EU:15.3;APAC:5.4;EMEA:9.6;LATAM:4.1
B:16.1;BB:12.1;A:16.9;CCC:12.6;AAA:23.5;BBB:18.8
1.22
52.3
167
241
15.5
2
25
55
25
true
true
true
false
1.88
-0.28
-0.3
Healthcare:EW
Hedge
CDX_IG: +200bps notional
-10
3
ECN1
RFQ
4
89
-87
-278
Sector>limit
Reduce
Sector concentration above limit
179
Tighten HY exposure bands
C07267
CR6899
2025-01-20
Stress
243
659
6.7
-0
914,481,885
Consumer:34.6;Materials:33.6;RealEstate:31.8
US:72.0;EU:7.0;APAC:11.6;EMEA:5.0;LATAM:4.5
CCC:17.9;BBB:26.5;B:14.3;A:41.2
3.73
62.7
247
575
10.2
2.5
35
55
20
false
true
true
true
0.6
1.54
-0.29
Comm:EW;Materials:EW
Hedge
Options_Payer: +90bps notional
-43
22
DealerC
DealerAxed
6
98
232
-106
Sector>limit
Hedge
Sector concentration above limit
164
Tighten HY exposure bands
C07268
CR2121
2025-03-22
Calm
70
389
4.1
2.8
2,497,600,626
Materials:27.3;Financials:26.9;Consumer:17.1;Healthcare:20.0;Comm:8.7
US:57.9;EU:18.2;APAC:15.9;EMEA:5.7;LATAM:2.3
AAA:16.3;CCC:25.1;B:11.3;AA:12.6;BBB:17.9;A:16.8
7.05
41
208
157
12.7
3
35
55
20
false
true
true
true
2.12
0.65
-0.07
Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-13
45
ECN1
Electronic
12
89
-83
1
VAR>budget
Hedge
Portfolio VAR above budget
184
Tighten HY exposure bands
C07269
CR9324
2024-02-02
Calm
117
318
3.8
2.6
1,745,926,734
Tech:36.6;Financials:39.8;Comm:23.6
US:69.5;EU:13.2;APAC:6.3;EMEA:4.8;LATAM:6.3
BB:10.0;AA:18.0;AAA:31.5;BBB:40.5
1.68
46.6
124
484
18
3
20
45
20
true
true
false
false
1.52
-0.13
-0.12
Materials:EW
Hedge
CDX_IG: +200bps notional
-57
45
DealerC
All2All
3
96
-85
-264
VAR>budget
Reduce
Portfolio VAR above budget
119
Rotate into defensive sectors
C07270
CR7045
2024-04-21
Recovery
116
522
4.7
-0
787,787,133
Financials:16.7;Materials:16.2;Utilities:31.8;Energy:11.0;Comm:24.3
US:60.9;EU:6.4;APAC:14.5;EMEA:13.1;LATAM:5.1
BBB:13.6;CCC:25.7;B:38.3;AA:22.4
7.09
58.5
162
402
7
3
30
55
20
true
true
true
false
-0.07
1.56
0.11
null
Rotate
From Energy -1.0% to Utilities +1.0%
-51
27
ECN1
Electronic
8
95
-10
-311
HYCap>limit
Reduce
High-yield share above policy cap
138
Rotate into defensive sectors
C07271
CR2338
2024-04-05
Calm
102
356
4.2
1.8
315,084,978
Energy:9.5;Utilities:20.9;Industrials:9.9;Financials:26.2;Healthcare:8.1;Tech:25.4
US:60.3;EU:10.6;APAC:15.2;EMEA:9.9;LATAM:4.0
AA:32.5;B:20.2;BB:26.6;AAA:20.7
7.35
22.5
138
225
4.5
3
25
55
20
true
true
true
false
0.26
0.62
0.1
null
Hedge
CDX_HY: +62bps notional
0
21
ECN1
Electronic
12
99
-166
114
VAR>budget
Hedge
Portfolio VAR above budget
139
Reviewed by risk; hedges staggered
C07272
CR7242
2024-05-03
Stress
233
803
7.1
-0.7
1,343,128,953
Comm:24.6;Consumer:22.1;Healthcare:16.3;Financials:37.1
US:63.4;EU:12.8;APAC:13.9;EMEA:4.2;LATAM:5.7
B:13.0;AA:16.9;AAA:21.7;A:30.6;BB:17.8
3.35
56.4
215
412
12.2
4
20
55
30
true
true
true
true
1.79
-0.18
-0.31
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
17
43
ECN2
RFQ
9
87
-113
-108
HYCap>limit
Hedge
High-yield share above policy cap
101
Reviewed by risk; hedges staggered
C07273
CR4279
2024-09-20
Recovery
149
524
5
-0.4
1,726,469,918
Industrials:23.9;Materials:44.8;RealEstate:31.3
US:72.5;EU:11.9;APAC:5.1;EMEA:4.6;LATAM:5.9
BB:42.1;AAA:28.6;BBB:20.4;A:8.9
2.14
34.4
138
443
15.1
2.5
25
35
25
true
true
true
false
1.68
0.42
-0.05
Industrials:EW;RealEstate:EW
Hedge
iTraxx_MAIN: +198bps notional
-25
45
DealerA
Electronic
9
90
-49
-370
Sector>limit
Hedge
Sector concentration above limit
116
Rotate into defensive sectors
C07274
CR6983
2025-09-10
Tightening
145
488
5.2
1.1
2,494,666,041
Consumer:35.9;Utilities:33.1;Materials:15.1;Energy:15.9
US:68.5;EU:12.4;APAC:12.3;EMEA:3.4;LATAM:3.5
CCC:12.4;B:19.9;BB:18.8;AA:48.9
1.47
45
252
427
12.4
4
20
45
25
true
true
true
true
2.29
0.47
0.38
Utilities:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-56
-3
DealerC
All2All
11
92
218
-95
Region>limit
Hedge
Regional concentration above limit
192
Defer adds pending macro print
C07275
CR6207
2025-11-17
Recovery
172
522
4.8
1.6
2,880,472,961
Materials:12.6;Comm:30.5;RealEstate:39.0;Consumer:17.9
US:61.5;EU:17.7;APAC:14.3;EMEA:3.7;LATAM:2.8
AAA:13.4;B:12.9;AA:40.3;A:24.1;BB:9.2
0.91
57.5
113
418
6.1
4
30
35
30
true
true
false
false
2.45
0.77
0.37
null
Rotate
From Energy -1.0% to Utilities +1.0%
-57
-12
ECN2
Electronic
0
93
-86
-112
VAR>budget
Hedge
Portfolio VAR above budget
198
Reviewed by risk; hedges staggered
C07276
CR1140
2024-02-14
Stress
164
568
5.4
-1.8
81,890,036
RealEstate:28.0;Consumer:20.1;Utilities:15.5;Materials:36.4
US:69.9;EU:11.6;APAC:11.4;EMEA:3.4;LATAM:3.7
CCC:9.4;BBB:24.0;BB:4.8;B:5.5;AA:27.3;AAA:29.1
1.71
60.1
326
620
17.4
4
30
55
30
true
true
false
true
1.63
0.35
0.14
RealEstate:EW
Hedge
CDX_IG: +63bps notional
-27
1
DealerA
RFQ
0
93
-78
-284
HYCap>limit
Hedge
High-yield share above policy cap
170
Reviewed by risk; hedges staggered
C07277
CR6500
2024-08-27
Calm
94
317
3.2
1.6
2,745,545,898
Financials:38.2;Comm:37.8;RealEstate:13.8;Tech:10.3
US:75.4;EU:6.5;APAC:6.8;EMEA:5.0;LATAM:6.4
AA:19.2;BBB:18.7;BB:19.4;B:18.3;AAA:24.4
4.08
56.3
234
509
7.5
2
30
45
30
true
true
true
true
-0.33
0.81
0.17
Consumer:EW
Hedge
CDX_HY: +79bps notional
-7
38
DealerB
Electronic
10
85
-98
-90
VAR>budget
Reduce
Portfolio VAR above budget
146
Reviewed by risk; hedges staggered
C07278
CR1089
2025-11-15
Stress
194
829
6
-0.9
2,853,651,059
Utilities:18.4;Materials:26.5;Tech:14.7;Industrials:14.7;Consumer:6.6;RealEstate:19.2
US:55.8;EU:17.4;APAC:10.4;EMEA:9.1;LATAM:7.4
AA:32.5;B:25.0;BBB:21.4;CCC:21.2
3.3
30.2
347
664
16.2
2
20
55
30
true
true
true
true
-0.1
0.51
-0.07
Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-12
23
ECN2
Electronic
10
87
423
-65
Sector>limit
Rotate
Sector concentration above limit
159
Reviewed by risk; hedges staggered
C07279
CR0698
2024-01-13
Calm
88
417
4.3
1.6
530,087,719
Healthcare:32.2;Tech:34.7;Financials:33.1
US:61.5;EU:15.1;APAC:10.6;EMEA:10.5;LATAM:2.3
BB:13.0;B:15.0;AAA:25.2;CCC:8.0;BBB:24.9;AA:13.9
6.64
44.7
125
473
3.6
3.5
35
55
20
false
true
true
false
0.95
1.55
-0.32
Industrials:EW
Hedge
Treasury_Futures: +130bps notional
-15
36
ECN1
Electronic
6
95
-74
70
HYCap>limit
Hedge
High-yield share above policy cap
240
Escalate watchlist names
C07280
CR1033
2024-10-15
Stress
204
645
5.8
0.1
2,456,563,523
Industrials:9.7;Utilities:21.1;Healthcare:15.6;Consumer:20.9;Financials:13.8;Materials:19.0
US:62.6;EU:13.3;APAC:12.6;EMEA:10.2;LATAM:1.3
B:24.2;A:15.7;AA:14.2;BBB:18.9;AAA:9.9;CCC:17.0
1.64
32.8
295
372
21.1
3
35
45
20
false
true
true
true
1.9
0.64
0.31
Financials:EW;Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
10
10
ECN2
All2All
11
91
255
49
HYCap>limit
Hedge
High-yield share above policy cap
140
Escalate watchlist names
C07281
CR8872
2025-03-30
Tightening
101
388
4.7
1.3
2,335,124,316
Comm:31.9;RealEstate:10.0;Healthcare:17.2;Industrials:20.5;Financials:20.4
US:66.4;EU:14.7;APAC:8.7;EMEA:9.4;LATAM:0.8
A:23.9;BBB:23.6;CCC:6.7;AAA:20.2;AA:25.5
5.15
50.6
177
232
8.5
3
30
55
20
true
true
false
false
1.68
0.41
-0.36
Comm:EW;Tech:EW;Healthcare:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-41
-21
DealerB
RFQ
10
85
-117
82
HYCap>limit
Reduce
High-yield share above policy cap
90
Reviewed by risk; hedges staggered
C07282
CR2643
2025-08-17
Stress
242
576
7.4
-1.4
249,947,176
Tech:31.7;Utilities:36.8;Materials:31.4
US:71.7;EU:6.8;APAC:11.4;EMEA:4.4;LATAM:5.6
BB:6.0;CCC:9.0;AAA:19.5;AA:16.1;A:16.6;BBB:32.9
3.61
20.9
368
536
22.2
2.5
20
55
25
true
true
false
true
0.53
1.35
0.35
Healthcare:EW;Utilities:EW
Hedge
Treasury_Futures: +144bps notional
-16
42
DealerA
RFQ
12
95
-9
-333
HYCap>limit
Rotate
High-yield share above policy cap
212
Tighten HY exposure bands
C07283
CR9881
2025-02-08
Recovery
116
555
4.5
1.5
2,922,598,871
Comm:10.8;Utilities:16.0;Healthcare:38.9;Financials:34.3
US:66.5;EU:10.6;APAC:9.7;EMEA:6.6;LATAM:6.6
BBB:15.4;B:16.9;A:16.8;CCC:26.2;AAA:17.6;BB:7.1
2.18
20.3
166
316
7.1
3
20
55
20
true
true
true
false
1.68
0.12
0.35
null
Hedge
Options_Payer: +160bps notional
-58
4
ECN1
All2All
0
93
240
-48
HYCap>limit
Hedge
High-yield share above policy cap
181
Defer adds pending macro print
C07284
CR5271
2024-06-15
Recovery
105
519
5.6
-0.3
519,876,208
Energy:28.4;Financials:27.1;Materials:35.9;Utilities:8.6
US:63.9;EU:18.6;APAC:11.1;EMEA:3.7;LATAM:2.7
CCC:28.3;BBB:19.8;A:16.6;B:35.3
2.9
53.3
85
223
15.7
2
20
55
35
true
true
true
false
1.43
-0.21
-0.21
Financials:EW;Comm:EW
Hedge
iTraxx_XOVER: +91bps notional
-27
35
ECN2
All2All
12
97
302
-203
Region>limit
PauseAdds
Regional concentration above limit
171
Reviewed by risk; hedges staggered
C07285
CR0025
2025-03-02
Calm
83
329
4.5
1.6
930,610,394
Tech:16.4;Industrials:27.5;Materials:16.8;Comm:39.3
US:62.2;EU:11.5;APAC:10.5;EMEA:8.8;LATAM:7.1
B:34.0;BB:20.5;A:21.5;BBB:13.4;AA:10.5
0.73
29.5
198
152
17.5
4
20
55
30
true
true
true
false
-0.09
-0.16
0.01
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-28
-20
ECN2
Electronic
3
88
240
-225
Region>limit
Reduce
Regional concentration above limit
154
Tighten HY exposure bands
C07286
CR7611
2024-03-07
Recovery
159
455
5.5
-0.2
1,331,908,183
Consumer:21.2;Industrials:22.2;Financials:15.3;RealEstate:17.9;Tech:23.3
US:60.9;EU:11.5;APAC:12.8;EMEA:8.6;LATAM:6.3
CCC:10.3;A:15.7;AAA:18.1;BBB:20.5;BB:20.4;B:15.0
2.58
54.2
137
136
9.8
4
20
45
35
true
true
true
false
-0.23
0.1
-0.37
Consumer:EW;Financials:EW
Hedge
CDX_IG: +168bps notional
-2
29
ECN1
All2All
10
97
122
79
HYCap>limit
Rotate
High-yield share above policy cap
121
Rotate into defensive sectors
C07287
CR7401
2025-03-05
Tightening
124
462
4.9
0.7
2,255,215,445
Consumer:17.5;Materials:42.3;Financials:40.2
US:64.2;EU:8.2;APAC:14.3;EMEA:12.2;LATAM:1.1
BBB:21.7;B:29.7;CCC:13.6;AAA:35.0
2.75
20.2
224
178
9.8
3.5
30
45
30
true
true
true
true
1.07
1.31
-0.12
Industrials:EW;Healthcare:EW
Hedge
SingleName_CDS: +115bps notional
-2
23
ECN1
RFQ
9
94
329
-400
Sector>limit
Hedge
Sector concentration above limit
133
Defer adds pending macro print
C07288
CR9264
2025-03-01
Calm
71
350
4.3
2.8
2,509,331,920
Healthcare:7.7;Materials:13.3;RealEstate:26.4;Tech:22.0;Consumer:18.9;Industrials:11.6
US:68.0;EU:12.5;APAC:11.7;EMEA:5.3;LATAM:2.5
AA:7.7;BBB:15.5;CCC:24.8;B:35.2;AAA:16.7
1.99
64.4
256
200
14.5
3
30
45
35
false
true
true
true
0.5
1.03
0.21
Healthcare:EW
Hedge
iTraxx_MAIN: +141bps notional
-35
22
DealerA
DealerAxed
12
85
399
-302
HYCap>limit
Hedge
High-yield share above policy cap
126
Escalate watchlist names
C07289
CR4025
2024-01-20
Tightening
157
413
4.7
1.5
2,282,243,031
Industrials:44.7;Energy:18.7;Healthcare:21.7;Financials:14.9
US:66.5;EU:9.2;APAC:10.6;EMEA:7.9;LATAM:5.9
AA:16.8;BB:37.2;BBB:14.7;CCC:17.7;AAA:13.7
5.21
59.4
105
205
5.2
2.5
35
45
25
true
true
true
false
0.6
0.08
0.2
null
Hedge
Options_Payer: +172bps notional
12
-12
DealerA
All2All
6
92
248
-62
VAR>budget
Hedge
Portfolio VAR above budget
212
Escalate watchlist names
C07290
CR8192
2024-02-08
Tightening
140
385
4.6
0.7
187,929,339
Utilities:41.9;Industrials:36.2;RealEstate:21.9
US:56.4;EU:17.3;APAC:13.8;EMEA:5.9;LATAM:6.6
AA:16.9;CCC:9.2;AAA:12.7;A:30.1;BBB:24.8;BB:6.3
5.88
54.7
186
250
3
2
35
35
35
true
true
false
false
0.94
0.5
-0.28
RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-22
-25
DealerA
Electronic
11
86
188
194
Sector>limit
Rotate
Sector concentration above limit
134
Escalate watchlist names
C07291
CR2256
2025-03-20
Stress
195
734
5.8
0.5
2,202,012,121
Tech:11.3;Utilities:14.9;Financials:46.1;Healthcare:27.7
US:64.9;EU:17.1;APAC:6.3;EMEA:4.8;LATAM:6.9
BB:21.6;A:28.4;AAA:10.2;CCC:39.9
4.43
41.5
258
436
9.3
3.5
30
45
20
true
true
true
true
1.17
1.2
0.04
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-36
-17
DealerA
RFQ
7
86
57
-360
HYCap>limit
Hedge
High-yield share above policy cap
122
Escalate watchlist names
C07292
CR4818
2025-09-17
Calm
81
301
4.1
2.9
1,621,901,591
Financials:23.0;Utilities:25.1;Materials:33.1;Industrials:9.3;Consumer:9.4
US:69.5;EU:8.2;APAC:12.3;EMEA:9.2;LATAM:0.8
AAA:29.3;BB:17.8;BBB:10.3;B:9.0;A:33.5
1.31
29.4
168
347
3.7
3.5
30
35
35
true
true
false
false
0.04
0.82
0.32
Materials:EW;Healthcare:EW
Hedge
iTraxx_XOVER: +141bps notional
2
-12
DealerB
RFQ
3
89
-15
-215
Region>limit
Hedge
Regional concentration above limit
101
Rotate into defensive sectors
C07293
CR4840
2025-12-23
Calm
105
393
3.2
2.3
2,276,889,254
Healthcare:22.4;Financials:6.8;Tech:28.5;Materials:15.0;RealEstate:27.3
US:78.0;EU:8.9;APAC:6.3;EMEA:5.7;LATAM:1.1
AA:41.7;BBB:36.1;B:5.2;A:17.0
1.48
37
143
508
2.9
2
20
45
20
true
true
false
false
1.16
-0.19
0.1
Tech:EW;Healthcare:EW
Hedge
iTraxx_MAIN: +107bps notional
-30
24
DealerB
RFQ
9
99
415
-110
Region>limit
Hedge
Regional concentration above limit
149
Tighten HY exposure bands
C07294
CR3860
2024-12-26
Stress
148
646
5.4
0.7
1,212,550,341
Tech:10.7;Consumer:35.9;Industrials:33.6;Healthcare:19.7
US:59.3;EU:13.0;APAC:12.8;EMEA:8.0;LATAM:6.9
BB:3.8;AA:28.8;BBB:23.8;AAA:28.9;B:14.7
2.9
57.3
294
470
9.5
2.5
30
45
20
true
true
false
true
0.81
1.67
0.21
Materials:EW;Consumer:EW
Hedge
Treasury_Futures: +107bps notional
-34
3
ECN2
DealerAxed
3
97
263
-442
Region>limit
Hedge
Regional concentration above limit
192
Escalate watchlist names
C07295
CR3813
2024-10-20
Calm
101
282
4.4
3
1,417,441,436
Financials:19.8;Utilities:13.6;Comm:28.8;Tech:37.9
US:56.6;EU:18.5;APAC:10.5;EMEA:10.1;LATAM:4.3
CCC:24.7;BB:14.1;BBB:13.1;AA:32.1;AAA:16.0
6.12
36.2
260
471
6.4
3.5
35
35
20
true
true
true
true
2.36
1.22
0.39
Healthcare:EW
Hedge
Options_Payer: +51bps notional
20
1
ECN1
DealerAxed
10
95
303
-363
HYCap>limit
Rotate
High-yield share above policy cap
180
Tighten HY exposure bands
C07296
CR8113
2024-10-23
Stress
200
834
5.7
0.1
450,077,962
Industrials:16.6;Materials:21.1;Utilities:20.9;Comm:17.7;Consumer:23.7
US:68.2;EU:11.6;APAC:7.8;EMEA:8.3;LATAM:4.1
AA:18.8;AAA:19.5;CCC:27.8;BB:14.4;BBB:19.5
2.32
30.6
361
448
20.6
3.5
20
35
25
true
true
true
true
-0.06
0.94
0.18
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-19
-8
ECN2
All2All
4
88
74
-332
VAR>budget
Hedge
Portfolio VAR above budget
172
Reviewed by risk; hedges staggered
C07297
CR9586
2025-11-30
Stress
225
652
7.6
0.6
1,843,716,140
Comm:33.8;Financials:13.4;Industrials:11.9;Utilities:7.4;Consumer:33.5
US:52.7;EU:19.4;APAC:13.7;EMEA:10.8;LATAM:3.4
B:24.3;AA:14.6;A:20.9;AAA:24.8;BBB:15.5
3.23
50.1
166
289
10.1
4
25
55
35
true
false
false
false
0.9
0.32
0.53
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
6
8
DealerB
Electronic
2
98
-89
-389
VAR>budget
Rotate
Portfolio VAR above budget
228
Rotate into defensive sectors
C07298
CR7128
2024-07-07
Calm
117
411
3.5
2.5
2,534,276,181
Utilities:43.2;Energy:35.4;Healthcare:21.4
US:62.5;EU:13.4;APAC:12.6;EMEA:4.7;LATAM:6.7
BBB:19.3;AA:35.1;A:10.8;AAA:34.9
3.6
35.4
222
458
16.3
3.5
25
35
30
true
true
false
true
1.91
0.75
-0.38
null
Rotate
From Energy -1.0% to Utilities +1.0%
1
-13
DealerB
All2All
3
89
64
-399
HYCap>limit
PauseAdds
High-yield share above policy cap
258
Defer adds pending macro print
C07299
CR9474
2025-03-22
Tightening
95
388
5
1.3
2,597,058,409
Tech:19.9;Healthcare:14.2;Financials:13.4;Industrials:13.8;Energy:23.5;Utilities:15.2
US:68.4;EU:8.2;APAC:11.3;EMEA:4.9;LATAM:7.1
AA:13.2;CCC:17.1;BBB:29.9;B:39.8
4.87
55.6
105
123
6.6
3
30
35
25
false
true
true
false
0.93
1.64
0.17
Consumer:EW;Industrials:EW;Tech:EW
Rotate
From Energy -1.0% to Utilities +1.0%
6
-1
ECN2
All2All
0
100
212
-348
VAR>budget
Rotate
Portfolio VAR above budget
96
Defer adds pending macro print
C07300
CR9326
2024-09-14
Stress
215
740
6.5
-0.2
2,134,453,610
Industrials:24.6;Comm:44.7;Consumer:30.7
US:63.9;EU:14.0;APAC:11.1;EMEA:5.9;LATAM:5.0
BB:9.8;AAA:17.7;CCC:6.4;B:11.6;A:20.9;AA:33.5
2.64
64.6
207
247
11.6
3.5
25
45
20
true
true
true
true
2.05
0.29
0.36
Financials:EW;Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-40
7
DealerC
RFQ
10
89
250
-81
HYCap>limit
Reduce
High-yield share above policy cap
95
Rotate into defensive sectors