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
C07401
CR0938
2024-10-15
Calm
88
315
3.5
3
370,331,965
Tech:26.3;Utilities:30.5;RealEstate:28.1;Materials:15.1
US:75.3;EU:9.7;APAC:7.7;EMEA:7.2;LATAM:0.2
B:27.5;CCC:20.3;AA:11.6;A:16.2;AAA:14.2;BBB:10.2
1.47
37.4
140
255
3.1
2
25
45
25
true
true
true
false
0.22
-0.02
0.4
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-27
-20
DealerA
Electronic
5
98
-122
-452
Sector>limit
Reduce
Sector concentration above limit
170
Rotate into defensive sectors
C07402
CR1718
2024-06-02
Calm
118
314
3.3
1.6
198,849,201
Utilities:33.7;Comm:36.6;Consumer:29.8
US:66.9;EU:13.5;APAC:11.3;EMEA:6.8;LATAM:1.5
BBB:9.5;CCC:16.8;AA:17.3;A:16.9;B:24.5;AAA:15.0
2.77
54.5
115
333
4.4
4
20
35
25
true
true
true
false
0.52
-0
0.27
Comm:EW
Hedge
CDX_HY: +117bps notional
-31
-23
DealerA
Electronic
10
93
45
41
HYCap>limit
Hedge
High-yield share above policy cap
158
Rotate into defensive sectors
C07403
CR5299
2024-06-10
Stress
254
704
5.6
-1.3
2,494,193,297
Healthcare:10.2;Materials:8.5;Consumer:25.3;Comm:30.1;Industrials:25.9
US:61.1;EU:19.4;APAC:8.2;EMEA:8.9;LATAM:2.3
AA:14.0;CCC:39.5;AAA:15.3;BB:18.9;B:12.3
4.35
30.9
136
456
15
2
35
55
35
false
true
true
false
1.78
0.7
0.05
Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
17
-23
DealerC
DealerAxed
1
89
-17
157
HYCap>limit
Hedge
High-yield share above policy cap
213
Rotate into defensive sectors
C07404
CR1923
2025-04-14
Recovery
144
514
6.5
1.1
1,368,338,773
Tech:19.9;Energy:50.2;Industrials:29.9
US:58.8;EU:12.5;APAC:15.9;EMEA:10.1;LATAM:2.7
AA:24.1;A:27.3;BB:9.4;B:14.6;CCC:24.6
6.69
64.7
88
332
5.9
2
20
35
35
true
true
true
false
0.22
1.73
0.27
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-29
45
ECN1
RFQ
1
86
403
-87
VAR>budget
Reduce
Portfolio VAR above budget
136
Tighten HY exposure bands
C07405
CR8903
2024-11-10
Stress
216
839
5.9
-0.1
1,938,384,229
Consumer:27.6;Financials:18.5;Industrials:53.9
US:64.2;EU:15.5;APAC:9.3;EMEA:5.6;LATAM:5.4
AAA:39.4;AA:25.6;CCC:15.8;B:7.0;BB:12.2
5.29
54.6
296
408
8.4
2
25
55
35
true
true
false
true
0.11
1.4
0.34
null
Hedge
Treasury_Futures: +134bps notional
-58
13
DealerB
Electronic
1
90
323
-174
HYCap>limit
PauseAdds
High-yield share above policy cap
188
Tighten HY exposure bands
C07406
CR8326
2025-04-06
Calm
106
298
4.1
3
825,486,719
Consumer:32.9;Industrials:18.8;Energy:20.0;Financials:28.3
US:57.7;EU:19.3;APAC:8.6;EMEA:7.4;LATAM:7.0
AAA:14.8;BB:8.0;A:23.5;CCC:4.9;B:13.0;BBB:35.8
4.14
52
179
202
7.2
3
35
35
35
false
true
false
false
0.27
0.55
-0.26
Industrials:EW;Comm:EW;Utilities:EW
Hedge
Treasury_Futures: +147bps notional
-6
0
ECN2
DealerAxed
5
90
-165
-443
Sector>limit
Hedge
Sector concentration above limit
133
Rotate into defensive sectors
C07407
CR8948
2024-12-27
Recovery
158
512
6.2
0.2
886,766,535
Tech:27.6;Utilities:29.2;Healthcare:9.4;Consumer:6.7;Comm:27.1
US:63.0;EU:17.6;APAC:11.5;EMEA:4.9;LATAM:3.0
BBB:18.4;AA:33.9;AAA:30.7;B:17.1
2.91
54.5
97
329
15.4
3
35
45
25
false
true
false
false
-0.16
1.24
0.31
Utilities:EW;Tech:EW
Hedge
CDX_IG: +67bps notional
6
1
DealerC
Electronic
5
88
-86
83
VAR>budget
Hedge
Portfolio VAR above budget
189
Reviewed by risk; hedges staggered
C07408
CR6450
2024-01-11
Calm
114
337
3.8
2.3
1,963,457,480
Industrials:9.8;Utilities:14.3;Financials:33.7;Tech:19.5;Healthcare:22.7
US:73.4;EU:6.1;APAC:8.2;EMEA:7.4;LATAM:4.9
B:13.1;AA:58.8;A:21.0;BB:7.1
5.6
28.3
220
193
6.8
2.5
20
35
30
true
true
false
true
1.78
0.1
0.06
Energy:EW
Hedge
CDX_IG: +93bps notional
-28
29
DealerC
RFQ
2
91
391
-43
HYCap>limit
Hedge
High-yield share above policy cap
228
Rotate into defensive sectors
C07409
CR1416
2025-08-16
Recovery
153
638
5.4
0.4
100,231,072
Energy:26.9;Consumer:36.8;Financials:36.2
US:59.4;EU:16.8;APAC:12.6;EMEA:10.0;LATAM:1.3
CCC:24.9;B:15.1;A:43.8;BB:16.2
6.71
54.5
185
269
17.4
3.5
30
55
25
true
true
true
false
1.45
0.05
0.2
null
Hedge
CDX_IG: +93bps notional
19
2
DealerC
All2All
4
94
-122
74
Region>limit
Hedge
Regional concentration above limit
209
Rotate into defensive sectors
C07410
CR2697
2025-03-25
Tightening
135
480
4.1
0.8
1,356,829,616
Utilities:62.5;Comm:20.1;RealEstate:17.4
US:63.6;EU:18.9;APAC:6.9;EMEA:5.7;LATAM:4.9
CCC:18.9;B:21.2;AAA:20.7;A:22.6;AA:16.6
3.46
52.9
220
419
3.1
3
30
55
30
true
true
true
true
1.89
0.57
0.21
Energy:EW
Hedge
iTraxx_XOVER: +58bps notional
19
30
ECN2
DealerAxed
10
95
252
40
Region>limit
Reduce
Regional concentration above limit
241
Reviewed by risk; hedges staggered
C07411
CR1871
2024-08-18
Recovery
108
585
5.8
1
96,803,467
Comm:22.6;Financials:30.3;Tech:15.1;Healthcare:18.2;Materials:13.9
US:53.5;EU:17.8;APAC:13.2;EMEA:9.2;LATAM:6.3
BBB:12.0;AA:9.0;A:17.7;BB:24.6;CCC:24.6;AAA:12.1
4.66
39.3
122
348
11.6
3.5
30
35
35
true
true
true
false
2.28
-0.03
0.15
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-7
32
ECN2
RFQ
2
91
-44
-16
Sector>limit
PauseAdds
Sector concentration above limit
143
Defer adds pending macro print
C07412
CR0337
2024-07-18
Calm
95
332
4.5
1.9
1,219,197,672
RealEstate:22.7;Financials:25.3;Healthcare:12.6;Industrials:8.5;Materials:22.4;Energy:8.4
US:62.0;EU:14.8;APAC:5.2;EMEA:10.9;LATAM:7.2
BBB:45.3;B:9.2;AA:40.2;CCC:5.3
4.62
61.6
155
429
10.7
2
20
55
20
true
true
false
false
-0.22
0.71
-0.37
Financials:EW;Energy:EW
Hedge
Options_Payer: +195bps notional
17
9
DealerB
RFQ
5
93
284
75
Region>limit
Hedge
Regional concentration above limit
243
Rotate into defensive sectors
C07413
CR3157
2025-05-21
Stress
188
710
6.9
0.4
539,741,332
Healthcare:28.7;Utilities:8.9;Materials:26.8;RealEstate:13.4;Industrials:22.2
US:63.0;EU:16.3;APAC:8.9;EMEA:8.0;LATAM:3.7
A:37.4;BB:26.9;AAA:16.0;CCC:19.7
5.49
28.1
326
343
15.6
4
25
35
25
true
true
true
true
-0.08
0.99
0.31
Energy:EW
Hedge
Treasury_Futures: +73bps notional
-47
31
ECN2
Electronic
12
99
15
26
Sector>limit
Reduce
Sector concentration above limit
146
Escalate watchlist names
C07414
CR3052
2024-01-11
Tightening
90
442
3.9
1.2
1,090,033,421
Energy:19.1;RealEstate:16.3;Healthcare:19.5;Materials:45.0
US:67.2;EU:13.8;APAC:4.8;EMEA:9.4;LATAM:4.7
AAA:20.1;CCC:17.3;A:25.4;BB:19.7;B:17.4
4.94
21.4
262
274
7.5
2
25
45
20
true
true
true
true
1.04
1.6
0.11
null
Hedge
iTraxx_XOVER: +101bps notional
-59
6
DealerC
RFQ
8
97
-96
-19
Region>limit
Hedge
Regional concentration above limit
91
Reviewed by risk; hedges staggered
C07415
CR7853
2024-12-22
Stress
161
821
5
-0.7
1,537,244,673
Comm:12.4;Industrials:21.3;Consumer:32.8;Energy:33.5
US:70.7;EU:7.9;APAC:10.6;EMEA:9.0;LATAM:1.8
AA:26.4;A:26.9;CCC:4.8;BB:14.2;BBB:21.1;B:6.5
2.82
22.3
252
597
15.5
4
20
55
20
true
true
true
true
1.94
1.08
0.52
Comm:EW;Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-56
-9
ECN1
RFQ
12
89
356
120
HYCap>limit
Reduce
High-yield share above policy cap
133
Rotate into defensive sectors
C07416
CR9729
2025-10-11
Stress
154
576
6.7
-1.4
2,644,690,871
Energy:28.9;Comm:37.5;Tech:24.4;Utilities:9.3
US:69.5;EU:11.7;APAC:6.0;EMEA:11.2;LATAM:1.5
BB:11.1;B:16.9;BBB:26.7;AA:18.1;CCC:27.2
4.36
24.2
271
269
11.1
2
20
35
30
true
true
true
true
1.75
0.7
-0.05
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
8
21
ECN1
Electronic
7
85
202
-379
HYCap>limit
Hedge
High-yield share above policy cap
252
Escalate watchlist names
C07417
CR6943
2024-04-29
Calm
90
376
3.7
2.9
922,240,000
Financials:19.7;Industrials:26.5;Tech:29.4;Healthcare:24.4
US:71.1;EU:7.9;APAC:10.9;EMEA:9.3;LATAM:0.8
BB:11.0;AAA:37.7;B:15.9;CCC:35.4
5.87
45.7
249
416
3.8
4
30
55
30
false
true
true
true
-0.16
0.92
0.35
Materials:EW
Hedge
Options_Payer: +56bps notional
-17
-18
DealerC
All2All
8
90
178
-332
Region>limit
Rotate
Regional concentration above limit
194
Tighten HY exposure bands
C07418
CR4804
2025-12-15
Recovery
159
470
5
1.2
2,221,408,287
Utilities:15.0;RealEstate:53.1;Materials:31.9
US:67.9;EU:10.8;APAC:8.8;EMEA:5.0;LATAM:7.5
BBB:45.1;CCC:9.3;AAA:15.5;BB:30.0
4.28
47.5
216
505
9.9
3.5
35
35
30
true
true
true
true
-0.17
1.6
0.56
Utilities:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-37
18
ECN2
DealerAxed
4
93
146
-46
Region>limit
Reduce
Regional concentration above limit
204
Rotate into defensive sectors
C07419
CR8109
2025-06-14
Tightening
130
350
3.9
0.8
856,655,629
Comm:15.0;Utilities:17.0;Energy:25.5;Industrials:16.5;Financials:25.9
US:70.7;EU:16.3;APAC:9.3;EMEA:3.2;LATAM:0.4
AA:22.9;BBB:23.3;AAA:37.7;B:9.1;CCC:7.0
5.98
27.6
106
357
15.8
2.5
25
35
25
true
true
false
false
0.77
0.37
0.31
null
Rotate
From Energy -1.0% to Utilities +1.0%
-29
19
ECN2
Electronic
3
85
82
140
Sector>limit
Reduce
Sector concentration above limit
234
Reviewed by risk; hedges staggered
C07420
CR1921
2025-12-04
Tightening
144
475
5.1
1.9
2,672,594,988
Materials:11.2;Utilities:11.0;Energy:37.1;Healthcare:40.7
US:61.4;EU:18.1;APAC:7.8;EMEA:3.5;LATAM:9.1
CCC:21.3;A:33.6;AA:28.2;BBB:16.9
4.08
51.3
93
447
7
2
20
45
30
true
true
false
false
1.62
0.35
0.08
Tech:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-14
0
DealerB
All2All
3
93
18
100
HYCap>limit
Hedge
High-yield share above policy cap
106
Reviewed by risk; hedges staggered
C07421
CR2323
2024-08-08
Recovery
115
627
5
0.4
1,319,412,408
Consumer:12.3;Materials:24.2;Healthcare:13.1;Utilities:20.8;Comm:16.9;RealEstate:12.6
US:58.7;EU:9.3;APAC:15.8;EMEA:6.9;LATAM:9.2
CCC:11.8;AAA:34.2;A:16.2;B:15.9;BBB:21.9
3.96
32
125
202
6.1
2.5
30
45
25
false
true
true
false
-0.13
0.72
-0.19
RealEstate:EW
Hedge
SingleName_CDS: +55bps notional
4
-20
DealerA
DealerAxed
10
89
7
62
VAR>budget
Hedge
Portfolio VAR above budget
111
Reviewed by risk; hedges staggered
C07422
CR3282
2024-04-02
Stress
221
618
7
-1.5
993,108,043
Utilities:16.2;Materials:21.3;RealEstate:26.3;Healthcare:7.1;Consumer:10.9;Comm:18.0
US:67.6;EU:9.6;APAC:6.3;EMEA:9.8;LATAM:6.7
BBB:13.9;BB:7.2;AAA:22.4;CCC:28.5;AA:7.3;A:20.7
3.41
53.7
227
700
20
4
35
45
30
false
true
true
true
2.48
-0.23
0.46
null
Rotate
From Energy -1.0% to Utilities +1.0%
-25
24
DealerC
Electronic
5
95
281
-153
Sector>limit
Rotate
Sector concentration above limit
257
Rotate into defensive sectors
C07423
CR9765
2025-04-05
Tightening
99
350
4.1
1.6
2,619,150,194
Comm:27.0;Consumer:27.8;Tech:18.0;Financials:8.6;RealEstate:18.6
US:60.6;EU:14.7;APAC:10.3;EMEA:10.4;LATAM:4.0
BB:27.5;B:30.3;AA:8.0;BBB:20.3;AAA:13.9
6.88
52.9
163
357
14.1
2.5
20
45
25
true
true
true
false
0.09
0.45
0.41
Industrials:EW;Consumer:EW
Hedge
Options_Payer: +112bps notional
-38
-6
DealerC
RFQ
0
88
201
60
Sector>limit
Rotate
Sector concentration above limit
179
Escalate watchlist names
C07424
CR7975
2025-12-22
Recovery
179
432
5.8
0.8
849,661,856
Energy:26.7;Tech:23.6;Industrials:21.5;Comm:10.0;RealEstate:18.2
US:64.8;EU:13.0;APAC:11.8;EMEA:8.5;LATAM:1.9
CCC:9.2;BB:6.6;AA:11.0;A:22.2;AAA:31.2;BBB:19.9
4.53
43.8
148
237
4
3
25
55
35
true
true
false
false
1.16
0.91
0.12
null
Hedge
Options_Payer: +86bps notional
6
-5
DealerA
RFQ
12
86
100
-330
VAR>budget
Rotate
Portfolio VAR above budget
196
Rotate into defensive sectors
C07425
CR8638
2025-09-07
Stress
218
831
8.2
-0.4
2,268,027,753
Industrials:16.2;Financials:17.1;Materials:15.5;Healthcare:9.3;Consumer:21.7;RealEstate:20.1
US:56.6;EU:16.0;APAC:7.9;EMEA:12.4;LATAM:7.2
CCC:22.5;A:25.1;BBB:25.6;B:5.2;AAA:21.6
2.37
20.7
292
591
13.5
3
35
45
35
false
true
false
true
0.44
0.72
-0.3
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-39
3
DealerA
Electronic
8
95
-36
-312
VAR>budget
Rotate
Portfolio VAR above budget
210
Rotate into defensive sectors
C07426
CR0593
2024-08-15
Recovery
167
503
5.9
1.3
1,799,104,148
Energy:23.6;RealEstate:33.7;Utilities:23.8;Comm:18.9
US:69.7;EU:6.3;APAC:8.1;EMEA:9.9;LATAM:6.0
BBB:25.4;AAA:30.7;B:6.1;AA:22.8;CCC:7.8;BB:7.1
6.82
54.8
280
163
17.9
3.5
35
35
20
false
true
true
true
-0.11
0.8
0.3
Tech:EW
Hedge
iTraxx_XOVER: +151bps notional
-37
9
DealerA
DealerAxed
7
96
27
-79
Sector>limit
Reduce
Sector concentration above limit
154
Defer adds pending macro print
C07427
CR2207
2025-02-23
Calm
67
292
3.7
2.9
2,348,840,776
Industrials:21.8;Materials:44.6;Energy:33.6
US:67.7;EU:12.3;APAC:8.5;EMEA:8.8;LATAM:2.7
CCC:9.4;A:19.0;BB:28.4;BBB:43.2
0.82
60.4
83
379
15.5
3.5
30
35
35
true
true
true
false
0.83
0.27
-0.17
Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-27
-22
ECN2
DealerAxed
4
97
165
-351
Region>limit
Hedge
Regional concentration above limit
150
Rotate into defensive sectors
C07428
CR4832
2025-08-10
Stress
226
569
7
-1
2,363,329,803
Comm:19.9;Healthcare:16.5;Energy:19.0;Financials:12.4;Industrials:17.3;Consumer:14.9
US:72.2;EU:10.2;APAC:11.6;EMEA:3.7;LATAM:2.3
BBB:15.7;AA:12.6;B:6.5;AAA:15.2;BB:36.1;CCC:13.8
5.63
45.4
205
583
11.4
4
20
55
35
false
true
true
true
1.04
0.64
0.13
RealEstate:EW;Healthcare:EW
Hedge
iTraxx_MAIN: +112bps notional
-50
19
DealerB
Electronic
7
91
253
-258
HYCap>limit
Reduce
High-yield share above policy cap
170
Rotate into defensive sectors
C07429
CR7785
2024-04-29
Recovery
119
610
5.4
1.2
2,737,068,216
Materials:14.5;Energy:10.1;Consumer:42.1;Utilities:17.0;Industrials:16.3
US:65.5;EU:18.4;APAC:7.0;EMEA:8.7;LATAM:0.4
A:29.3;BBB:18.2;BB:9.0;AA:17.0;AAA:26.4
3.14
35.9
198
281
11.5
3.5
35
45
20
true
true
false
false
-0.47
1.02
-0.35
RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-55
17
DealerC
Electronic
7
93
138
-371
HYCap>limit
Hedge
High-yield share above policy cap
216
Reviewed by risk; hedges staggered
C07430
CR0782
2024-06-04
Tightening
156
362
3.9
0.6
461,720,453
Energy:36.0;Financials:28.3;Healthcare:9.6;Comm:26.2
US:70.9;EU:6.7;APAC:13.9;EMEA:6.1;LATAM:2.5
AAA:15.3;B:10.6;BB:10.6;AA:20.8;BBB:42.6
1.09
26.8
214
282
15.1
4
25
35
30
true
true
false
true
1.2
0.18
-0.14
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-43
36
DealerA
Electronic
9
96
182
-307
VAR>budget
Hedge
Portfolio VAR above budget
217
Rotate into defensive sectors
C07431
CR8182
2025-02-10
Calm
84
310
4.4
1.6
640,682,503
Tech:19.6;Healthcare:32.7;Energy:29.0;Consumer:18.7
US:59.5;EU:10.3;APAC:13.0;EMEA:10.0;LATAM:7.2
BBB:14.5;AA:15.9;AAA:18.3;BB:13.1;CCC:27.2;B:11.0
6.35
50
242
238
13.5
3
20
45
30
true
true
true
true
1
1.2
0.5
Industrials:EW;Healthcare:EW
Hedge
CDX_HY: +79bps notional
-57
23
ECN1
RFQ
3
94
-145
-318
Sector>limit
Reduce
Sector concentration above limit
95
Tighten HY exposure bands
C07432
CR3967
2024-01-10
Stress
156
708
7.8
-1.3
1,423,662,788
Utilities:37.8;Consumer:31.2;Tech:31.0
US:61.0;EU:17.2;APAC:9.6;EMEA:9.3;LATAM:2.8
CCC:34.8;BBB:24.5;AA:13.6;AAA:9.5;A:17.6
6.1
48.9
224
661
14.6
4
25
35
30
true
true
true
true
2.4
1.66
0.3
Industrials:EW
Hedge
SingleName_CDS: +56bps notional
13
-7
DealerA
DealerAxed
9
92
-21
-1
Region>limit
Hedge
Regional concentration above limit
91
Rotate into defensive sectors
C07433
CR1109
2025-06-28
Recovery
141
509
6.2
1.1
438,837,768
Energy:24.9;Comm:6.0;Materials:9.9;Financials:23.7;Healthcare:24.5;Consumer:11.0
US:67.9;EU:13.4;APAC:10.2;EMEA:6.2;LATAM:2.3
B:8.3;A:19.6;BB:20.8;AA:11.6;AAA:19.2;BBB:20.6
0.83
20.9
230
222
17.4
4
35
35
30
false
true
false
true
0.01
1.35
0.15
Utilities:EW
Hedge
iTraxx_XOVER: +130bps notional
-27
11
ECN1
RFQ
3
85
90
-170
HYCap>limit
Hedge
High-yield share above policy cap
204
Defer adds pending macro print
C07434
CR9115
2024-07-21
Calm
92
370
4.3
3
1,675,576,284
Healthcare:21.3;Comm:7.0;Materials:20.1;Utilities:23.4;Consumer:12.7;RealEstate:15.4
US:59.2;EU:21.1;APAC:8.1;EMEA:7.1;LATAM:4.5
AAA:27.4;BBB:21.2;CCC:35.4;AA:16.0
6.07
48.1
221
364
4.7
4
20
55
30
true
true
true
true
2.44
0.29
0.38
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-5
37
ECN2
DealerAxed
0
95
252
7
HYCap>limit
Hedge
High-yield share above policy cap
170
Reviewed by risk; hedges staggered
C07435
CR9551
2025-05-15
Stress
238
790
7
0
400,040,634
Comm:10.7;RealEstate:12.9;Industrials:20.1;Consumer:22.8;Energy:33.4
US:57.2;EU:21.7;APAC:7.6;EMEA:9.5;LATAM:4.0
A:9.7;B:38.1;AA:9.9;BB:18.2;AAA:24.2
7
64.9
343
329
15.2
2.5
30
55
35
true
true
true
true
1.88
1.38
0.12
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
9
-11
ECN1
Electronic
0
96
377
-75
Sector>limit
Hedge
Sector concentration above limit
184
Rotate into defensive sectors
C07436
CR2692
2024-06-07
Calm
90
397
4.1
1.7
2,942,807,587
Materials:22.0;RealEstate:10.8;Consumer:7.3;Tech:23.0;Energy:20.8;Utilities:16.0
US:71.3;EU:5.7;APAC:9.0;EMEA:8.5;LATAM:5.4
BBB:12.4;B:22.2;AAA:20.9;BB:20.1;AA:10.1;A:14.3
5.07
23.4
96
490
7.7
2.5
25
55
20
false
true
true
false
2.01
0.16
0.03
RealEstate:EW;Consumer:EW
Hedge
Treasury_Futures: +50bps notional
-8
13
DealerB
RFQ
1
90
-138
61
Sector>limit
Reduce
Sector concentration above limit
211
Escalate watchlist names
C07437
CR4004
2025-02-19
Tightening
148
413
4
0.6
1,709,843,654
Energy:5.4;Industrials:23.9;Comm:20.2;Materials:20.9;Consumer:10.3;RealEstate:19.3
US:72.8;EU:8.8;APAC:5.9;EMEA:11.3;LATAM:1.3
CCC:13.9;AAA:19.3;BBB:51.6;B:15.3
2.03
64.2
159
371
3
2.5
25
45
20
false
true
true
false
1.08
1.67
-0.08
Healthcare:EW
Hedge
CDX_IG: +160bps notional
0
-21
ECN1
RFQ
2
98
-39
180
HYCap>limit
Rotate
High-yield share above policy cap
120
Reviewed by risk; hedges staggered
C07438
CR6222
2024-10-16
Recovery
106
554
5.7
0.9
2,779,044,177
Comm:17.4;Financials:28.3;RealEstate:24.2;Utilities:21.0;Tech:9.0
US:56.3;EU:14.6;APAC:13.5;EMEA:8.1;LATAM:7.5
AA:33.5;BB:17.3;CCC:16.8;B:5.0;AAA:27.5
3.07
51.3
186
293
8.7
2
20
55
35
true
true
true
false
2.32
0.55
0.31
Tech:EW
Hedge
CDX_IG: +54bps notional
-47
36
ECN2
RFQ
11
89
-91
-138
HYCap>limit
Rotate
High-yield share above policy cap
140
Tighten HY exposure bands
C07439
CR3300
2025-02-03
Recovery
121
517
5.7
1.5
1,541,992,058
Materials:19.7;Consumer:18.0;Energy:21.4;Comm:21.3;Tech:19.6
US:64.8;EU:7.2;APAC:12.0;EMEA:10.7;LATAM:5.3
A:21.9;AAA:36.5;AA:35.7;B:5.9
3
24.3
152
464
3.5
4
35
35
30
false
true
false
false
2.36
1.3
0.42
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-36
40
DealerC
All2All
11
97
-184
-222
HYCap>limit
Hedge
High-yield share above policy cap
164
Defer adds pending macro print
C07440
CR3509
2025-07-20
Recovery
107
572
4.7
0.4
1,959,732,051
Industrials:22.8;Materials:17.1;Tech:23.0;Energy:14.6;Healthcare:22.5
US:58.8;EU:16.3;APAC:11.4;EMEA:9.5;LATAM:4.0
AAA:15.3;BBB:39.9;B:8.8;BB:8.4;AA:27.7
2.3
55.3
113
264
11.7
4
25
45
20
false
true
false
false
0.06
-0.24
0.2
RealEstate:EW
Hedge
Treasury_Futures: +65bps notional
-17
-9
ECN2
DealerAxed
3
100
277
-385
Sector>limit
Hedge
Sector concentration above limit
248
Tighten HY exposure bands
C07441
CR9922
2025-06-10
Stress
168
715
7.5
-1.2
1,779,625,344
Consumer:32.5;Tech:28.7;Industrials:8.1;Comm:16.8;Utilities:14.0
US:62.7;EU:15.7;APAC:11.1;EMEA:8.6;LATAM:1.9
BBB:31.1;BB:7.2;AA:12.0;CCC:17.3;AAA:32.4
7.39
39.4
179
428
13
2
25
35
25
true
true
false
false
1.8
0.53
-0.02
null
Hedge
SingleName_CDS: +107bps notional
8
8
DealerB
RFQ
8
87
-120
-122
VAR>budget
Hedge
Portfolio VAR above budget
149
Rotate into defensive sectors
C07442
CR1178
2024-09-18
Recovery
143
521
5.4
1.9
2,742,592,029
Consumer:23.2;Industrials:20.7;Tech:21.9;Comm:11.4;Materials:22.8
US:62.1;EU:11.4;APAC:14.5;EMEA:8.5;LATAM:3.5
AA:14.9;CCC:3.2;A:20.6;AAA:29.0;B:16.2;BB:16.1
5.51
30.9
204
350
7.2
3.5
20
55
30
true
true
true
true
1.93
-0.04
0.38
Materials:EW
Hedge
iTraxx_XOVER: +74bps notional
-50
-12
DealerC
All2All
10
99
441
-245
Sector>limit
Hedge
Sector concentration above limit
220
Rotate into defensive sectors
C07443
CR2609
2024-12-08
Tightening
126
514
4.3
1.9
921,893,928
Financials:19.0;Energy:18.7;Consumer:23.3;RealEstate:24.5;Tech:14.6
US:58.8;EU:13.9;APAC:10.0;EMEA:10.4;LATAM:7.0
A:10.8;CCC:9.2;BB:29.0;BBB:17.8;AA:15.0;AAA:18.1
6.58
43.6
267
302
12.1
2.5
35
45
35
false
true
true
true
1.77
0.95
-0.31
Tech:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-9
23
DealerA
DealerAxed
8
88
34
-435
VAR>budget
Reduce
Portfolio VAR above budget
102
Rotate into defensive sectors
C07444
CR1271
2025-10-06
Stress
260
674
7.7
0.3
1,594,861,760
Consumer:32.7;Utilities:37.2;RealEstate:19.0;Industrials:11.1
US:64.8;EU:11.5;APAC:13.7;EMEA:9.1;LATAM:0.9
BBB:18.3;CCC:10.2;AA:10.9;B:48.1;AAA:12.5
3.73
44.5
193
306
17.9
2.5
20
45
20
true
true
true
false
-0.15
1.79
-0.31
Tech:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-23
-7
DealerC
RFQ
10
93
49
-103
Sector>limit
Hedge
Sector concentration above limit
174
Rotate into defensive sectors
C07445
CR5792
2025-07-17
Tightening
142
418
4.4
1.1
758,926,541
Comm:19.5;Materials:21.5;RealEstate:19.6;Tech:11.6;Financials:21.2;Utilities:6.7
US:61.0;EU:15.4;APAC:10.0;EMEA:9.1;LATAM:4.6
AAA:27.6;B:18.2;BBB:20.6;BB:11.7;A:21.9
2.97
62.9
211
493
5.1
3.5
35
45
25
false
true
true
true
0.67
1.25
-0.27
RealEstate:EW
Hedge
CDX_IG: +133bps notional
-6
-2
DealerB
DealerAxed
4
87
-111
-129
VAR>budget
Rotate
Portfolio VAR above budget
215
Defer adds pending macro print
C07446
CR8400
2025-12-12
Stress
175
582
6.9
0.1
630,540,558
Utilities:18.1;Tech:26.0;Materials:6.8;Energy:19.3;Healthcare:10.8;Financials:19.0
US:65.2;EU:15.1;APAC:8.0;EMEA:8.3;LATAM:3.3
BB:26.0;AAA:21.4;CCC:12.9;BBB:8.9;A:14.6;AA:16.1
4.63
30
265
513
9.4
2
35
35
20
false
true
true
true
1.31
0.51
-0.34
Comm:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-58
27
ECN1
DealerAxed
9
97
338
-110
Region>limit
Hedge
Regional concentration above limit
92
Reviewed by risk; hedges staggered
C07447
CR4288
2025-10-26
Calm
97
312
3.5
2.6
533,155,981
Healthcare:37.7;Energy:12.3;Comm:18.3;Financials:31.8
US:75.4;EU:14.9;APAC:5.3;EMEA:4.1;LATAM:0.3
BB:17.2;CCC:14.1;B:34.2;A:34.5
6.18
20.4
119
323
17.6
4
30
35
20
true
true
true
false
0.82
1.62
0.12
Consumer:EW
Hedge
Options_Payer: +174bps notional
-57
33
ECN2
DealerAxed
7
91
-88
-326
HYCap>limit
Rotate
High-yield share above policy cap
104
Rotate into defensive sectors
C07448
CR3605
2024-02-06
Recovery
164
496
5
1.2
2,471,057,958
Healthcare:18.8;Utilities:26.9;RealEstate:29.7;Consumer:24.6
US:59.7;EU:8.0;APAC:14.6;EMEA:11.5;LATAM:6.2
AAA:13.5;AA:14.1;CCC:14.7;B:5.1;BBB:26.3;BB:26.3
5.33
23.7
117
155
9.7
4
25
45
35
true
true
true
false
1.74
1.34
-0.3
Comm:EW
Hedge
Options_Payer: +162bps notional
11
-13
DealerA
All2All
7
88
153
-91
VAR>budget
PauseAdds
Portfolio VAR above budget
103
Defer adds pending macro print
C07449
CR5707
2024-06-07
Tightening
142
362
4.2
0.9
1,134,422,290
Energy:15.9;Comm:11.6;Consumer:11.7;Healthcare:14.8;Materials:20.1;Tech:26.0
US:66.0;EU:9.1;APAC:12.1;EMEA:6.9;LATAM:5.7
AA:28.0;B:11.7;AAA:27.2;CCC:3.0;BB:9.0;A:21.1
0.86
23.7
143
506
16.3
3.5
30
35
30
false
true
false
false
-0.26
0.48
0.6
null
Hedge
SingleName_CDS: +153bps notional
-49
9
ECN1
DealerAxed
0
85
249
-24
HYCap>limit
Reduce
High-yield share above policy cap
200
Rotate into defensive sectors
C07450
CR0460
2024-03-19
Calm
119
412
4.2
1.6
323,105,070
Comm:12.5;Tech:34.7;Industrials:29.0;RealEstate:23.8
US:63.0;EU:18.8;APAC:6.3;EMEA:3.6;LATAM:8.2
AAA:25.9;BBB:27.7;CCC:21.8;AA:24.6
4.38
24.2
252
480
14.7
3.5
35
45
25
false
true
false
true
-0.15
0.1
-0.06
Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-24
18
DealerA
Electronic
2
96
365
-110
Region>limit
Hedge
Regional concentration above limit
140
Reviewed by risk; hedges staggered
C07451
CR5741
2024-09-23
Stress
235
576
8.4
0.8
1,353,279,011
Utilities:31.7;Energy:18.1;Tech:24.6;Healthcare:25.6
US:73.6;EU:8.3;APAC:6.6;EMEA:9.7;LATAM:1.8
B:17.7;AA:13.1;A:13.6;AAA:25.4;CCC:30.2
1.95
30.4
320
689
20.9
2
20
35
25
true
true
true
true
2.27
0.96
0.05
Healthcare:EW;Industrials:EW
Hedge
Treasury_Futures: +82bps notional
17
23
ECN2
All2All
12
100
-181
73
Region>limit
Rotate
Regional concentration above limit
228
Escalate watchlist names
C07452
CR0083
2025-09-01
Calm
99
326
4.1
2.5
1,225,755,223
Tech:9.7;Consumer:21.4;Utilities:15.6;Materials:21.5;RealEstate:7.6;Comm:24.2
US:66.4;EU:16.1;APAC:10.6;EMEA:3.3;LATAM:3.6
AA:53.9;CCC:12.9;AAA:22.8;B:10.4
0.55
26.2
108
231
12.5
2
35
55
35
false
true
false
false
0.21
1.14
0.43
null
Hedge
SingleName_CDS: +61bps notional
8
14
ECN2
RFQ
10
85
90
-310
Region>limit
Reduce
Regional concentration above limit
173
Rotate into defensive sectors
C07453
CR7470
2025-10-06
Stress
164
661
6.7
-0.8
874,016,540
Healthcare:31.5;Financials:39.8;Industrials:28.6
US:65.0;EU:13.5;APAC:7.6;EMEA:8.3;LATAM:5.7
BB:10.6;B:7.1;AAA:18.0;A:33.1;CCC:14.3;AA:16.9
1.34
41.2
194
668
12.3
3.5
30
55
20
true
true
true
false
1.51
0.78
0.36
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-48
-8
DealerB
DealerAxed
7
85
341
-435
HYCap>limit
Hedge
High-yield share above policy cap
158
Rotate into defensive sectors
C07454
CR8251
2025-09-13
Calm
86
351
4.4
1.8
162,465,716
Consumer:27.7;Energy:11.1;Tech:33.7;Healthcare:27.6
US:66.5;EU:6.5;APAC:9.8;EMEA:10.9;LATAM:6.2
AAA:22.0;BB:23.3;CCC:17.4;A:23.5;BBB:13.8
1.05
43.5
155
405
15.9
4
25
55
35
true
true
true
false
0.54
1.37
0.35
RealEstate:EW;Healthcare:EW;Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-48
-20
DealerB
All2All
3
100
-38
-109
Sector>limit
Hedge
Sector concentration above limit
172
Defer adds pending macro print
C07455
CR8129
2024-09-19
Calm
98
365
3.8
1.8
1,376,076,113
Healthcare:39.7;Tech:12.0;RealEstate:48.3
US:71.4;EU:5.7;APAC:12.9;EMEA:4.7;LATAM:5.4
CCC:36.3;AA:23.8;A:17.6;BB:8.7;BBB:13.6
4.46
36.6
104
218
6.3
3
20
35
30
true
true
true
false
2
-0.22
0.56
Comm:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
16
23
DealerA
DealerAxed
7
95
-90
-378
Sector>limit
Hedge
Sector concentration above limit
141
Tighten HY exposure bands
C07456
CR9304
2024-06-01
Calm
92
314
3.6
2.3
1,547,461,102
Financials:23.1;Consumer:32.5;Utilities:12.2;Comm:32.2
US:72.0;EU:6.7;APAC:8.1;EMEA:11.5;LATAM:1.7
B:29.1;AA:18.0;BBB:16.9;CCC:9.5;BB:26.5
2.2
58.4
153
320
7.2
3
30
45
20
true
true
true
false
1.63
0.29
0.57
null
Rotate
From Energy -1.0% to Utilities +1.0%
15
-24
DealerC
Electronic
2
97
304
-309
VAR>budget
Hedge
Portfolio VAR above budget
106
Defer adds pending macro print
C07457
CR3667
2025-10-08
Calm
86
408
4.4
3
1,849,933,494
Industrials:10.0;Energy:46.8;RealEstate:43.2
US:58.9;EU:16.9;APAC:12.1;EMEA:10.3;LATAM:1.8
AAA:9.3;AA:24.6;BB:20.1;A:16.4;BBB:29.5
2.38
33.3
183
410
9.2
4
35
55
20
true
true
true
false
-0.46
0.18
0.26
Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-20
14
ECN1
All2All
11
88
80
-225
VAR>budget
Hedge
Portfolio VAR above budget
197
Defer adds pending macro print
C07458
CR2572
2024-10-03
Stress
157
685
7.9
-0.1
1,670,725,139
Healthcare:15.0;RealEstate:10.5;Financials:15.5;Utilities:22.9;Materials:21.0;Comm:15.2
US:60.7;EU:14.1;APAC:12.6;EMEA:6.9;LATAM:5.6
A:21.2;CCC:17.2;BBB:17.2;BB:19.6;AA:18.1;B:6.7
7.23
40.1
170
399
13
2
20
55
35
true
true
true
false
-0.32
0.89
0.07
RealEstate:EW
Hedge
iTraxx_MAIN: +194bps notional
-19
-14
ECN1
All2All
0
88
38
-35
Region>limit
PauseAdds
Regional concentration above limit
250
Reviewed by risk; hedges staggered
C07459
CR3528
2024-11-27
Calm
107
382
3.7
2.6
2,557,895,202
Utilities:28.7;Tech:20.0;Energy:25.7;Healthcare:25.6
US:59.6;EU:15.8;APAC:12.0;EMEA:7.3;LATAM:5.3
AAA:35.2;BB:11.7;A:40.4;CCC:12.7
6.58
23.9
276
155
3.7
2.5
25
35
25
true
true
false
true
2.11
1.73
0.57
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-30
0
DealerB
Electronic
1
98
266
-21
HYCap>limit
Hedge
High-yield share above policy cap
169
Escalate watchlist names
C07460
CR0063
2025-12-14
Calm
66
394
3.3
2.4
1,967,033,676
Consumer:30.2;RealEstate:16.8;Industrials:28.2;Energy:11.8;Healthcare:13.0
US:68.3;EU:9.0;APAC:12.6;EMEA:7.9;LATAM:2.2
CCC:26.5;BB:38.0;B:16.8;AAA:18.6
1.79
59.1
134
386
8.9
2.5
25
55
25
true
true
true
false
1.83
1.49
-0.18
Industrials:EW;Consumer:EW
Hedge
Options_Payer: +112bps notional
-37
19
ECN2
RFQ
2
86
-165
-157
Region>limit
Hedge
Regional concentration above limit
244
Escalate watchlist names
C07461
CR5337
2025-04-27
Tightening
101
504
4.4
0.7
1,991,018,343
Materials:25.2;Utilities:10.7;Tech:13.3;Consumer:22.0;Financials:28.9
US:68.2;EU:14.3;APAC:5.9;EMEA:8.3;LATAM:3.3
B:19.7;AA:8.9;A:16.0;BBB:17.3;BB:10.0;CCC:28.1
5.73
50.8
249
167
14.5
3
30
45
30
false
true
true
true
1.43
1.8
0.51
Materials:EW
Hedge
iTraxx_MAIN: +195bps notional
-14
-11
DealerA
RFQ
9
90
-71
-392
Region>limit
Rotate
Regional concentration above limit
234
Tighten HY exposure bands
C07462
CR0460
2025-09-14
Stress
243
752
6.3
0
2,502,130,111
Financials:16.6;Energy:40.7;Consumer:42.7
US:68.5;EU:8.2;APAC:14.4;EMEA:7.2;LATAM:1.7
AA:15.9;A:17.3;BBB:10.2;CCC:15.9;AAA:11.4;BB:29.2
2.03
64.2
146
439
15.5
3
30
55
35
true
true
true
false
-0.32
1.53
-0.38
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-48
26
DealerC
All2All
8
85
312
-48
VAR>budget
Reduce
Portfolio VAR above budget
245
Rotate into defensive sectors
C07463
CR8307
2024-01-24
Tightening
124
470
4
1.1
2,378,710,874
Tech:25.6;Materials:26.3;Financials:8.0;Comm:20.8;Consumer:19.4
US:59.3;EU:18.6;APAC:10.9;EMEA:9.9;LATAM:1.4
B:27.9;CCC:17.3;AA:14.9;BB:21.0;A:18.8
4.52
56.1
229
188
5
3.5
20
45
20
true
true
true
true
2
1.49
-0.29
Utilities:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-17
-14
DealerC
DealerAxed
10
85
-108
-23
HYCap>limit
Rotate
High-yield share above policy cap
198
Reviewed by risk; hedges staggered
C07464
CR8228
2025-11-03
Calm
69
356
3.6
1.9
1,026,911,895
Materials:30.3;Consumer:20.2;Financials:20.1;Comm:29.3
US:56.5;EU:18.1;APAC:13.1;EMEA:7.1;LATAM:5.1
BBB:17.4;AA:22.6;AAA:18.4;A:24.5;BB:17.1
5.63
60.6
148
394
4.5
2
35
35
25
false
true
false
false
2.26
0.41
0.02
RealEstate:EW
Hedge
CDX_HY: +55bps notional
-45
6
ECN2
RFQ
2
93
328
55
HYCap>limit
Hedge
High-yield share above policy cap
152
Defer adds pending macro print
C07465
CR9850
2025-11-27
Calm
97
311
4.5
3
2,831,057,367
RealEstate:9.9;Tech:20.3;Materials:17.5;Consumer:12.1;Utilities:14.1;Financials:26.1
US:60.6;EU:17.2;APAC:13.7;EMEA:6.9;LATAM:1.6
AA:10.3;AAA:14.6;BB:13.5;B:8.9;CCC:30.7;A:21.9
7.16
30.9
150
471
15.6
2
35
35
35
false
true
true
false
2.46
0.6
-0.2
Industrials:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
12
32
ECN2
RFQ
0
86
186
-218
Sector>limit
Reduce
Sector concentration above limit
230
Defer adds pending macro print
C07466
CR3774
2025-12-25
Calm
112
305
3.4
2
2,634,741,464
Consumer:11.8;Financials:16.7;Materials:11.5;Tech:29.3;Utilities:23.0;Industrials:7.7
US:70.0;EU:11.0;APAC:11.0;EMEA:7.1;LATAM:1.0
BB:37.9;AA:18.9;CCC:30.5;A:12.7
2.73
45.2
256
304
5
3.5
20
35
25
true
true
true
true
0.03
0.68
-0.19
Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
9
15
ECN1
All2All
1
96
307
-269
HYCap>limit
Rotate
High-yield share above policy cap
232
Escalate watchlist names
C07467
CR8680
2024-04-30
Tightening
104
383
5.1
0.9
719,684,201
Financials:30.5;Healthcare:45.0;Industrials:24.5
US:68.4;EU:14.6;APAC:11.3;EMEA:4.7;LATAM:0.9
BBB:16.3;AAA:25.1;AA:12.4;A:15.4;BB:30.9
5.12
56.2
172
120
2.2
3
25
55
30
true
true
true
false
0.94
0.18
-0.36
null
Hedge
Treasury_Futures: +186bps notional
-37
11
DealerC
RFQ
4
91
103
-424
HYCap>limit
Reduce
High-yield share above policy cap
133
Rotate into defensive sectors
C07468
CR6196
2025-04-15
Tightening
112
379
5.1
0.9
516,606,390
Healthcare:44.5;Consumer:27.9;Financials:27.6
US:65.7;EU:14.4;APAC:11.7;EMEA:3.6;LATAM:4.6
A:18.4;BBB:14.2;AAA:8.3;B:22.8;AA:13.2;BB:23.1
0.69
62.3
91
511
5.1
4
20
45
35
true
true
true
false
0.1
0.17
0.41
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-50
11
DealerB
RFQ
4
96
137
141
Sector>limit
Hedge
Sector concentration above limit
250
Reviewed by risk; hedges staggered
C07469
CR4354
2024-09-15
Tightening
90
391
4.3
0.7
2,799,054,617
Industrials:17.7;RealEstate:14.7;Materials:14.8;Comm:13.9;Consumer:13.3;Healthcare:25.6
US:68.0;EU:13.3;APAC:8.9;EMEA:9.5;LATAM:0.3
B:31.2;CCC:29.2;AA:14.7;BB:14.2;AAA:10.6
6.38
33.8
177
243
7.6
3
35
35
35
false
true
true
false
2
0.75
-0.05
Comm:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
15
14
DealerB
All2All
1
98
241
-232
VAR>budget
Hedge
Portfolio VAR above budget
232
Rotate into defensive sectors
C07470
CR2910
2024-03-31
Stress
242
571
5.7
-1.6
1,332,654,755
Industrials:11.4;RealEstate:18.0;Financials:27.9;Comm:12.4;Materials:11.6;Tech:18.8
US:60.3;EU:17.5;APAC:12.4;EMEA:8.1;LATAM:1.7
BB:25.9;AAA:7.4;AA:10.4;A:14.9;B:14.7;CCC:26.6
2.87
29.4
257
406
17.4
4
20
55
25
true
true
true
true
2.33
0.61
-0.06
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-31
24
DealerB
All2All
4
90
-191
40
HYCap>limit
Reduce
High-yield share above policy cap
181
Defer adds pending macro print
C07471
CR5722
2024-04-02
Stress
176
630
5.3
0.1
1,224,999,317
Consumer:18.3;Materials:15.8;Healthcare:39.0;Tech:26.9
US:70.1;EU:12.6;APAC:6.2;EMEA:5.7;LATAM:5.4
BBB:16.9;AA:38.4;CCC:31.3;B:13.4
3.71
63.7
206
419
20.1
2
30
45
30
true
true
true
true
0.06
0.62
-0.17
Energy:EW;RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-38
23
DealerA
Electronic
5
89
176
-376
Sector>limit
PauseAdds
Sector concentration above limit
180
Tighten HY exposure bands
C07472
CR0963
2025-04-15
Stress
181
763
5.6
-1.3
2,330,552,747
Industrials:26.6;Comm:41.8;Healthcare:31.6
US:69.9;EU:11.8;APAC:8.6;EMEA:6.6;LATAM:3.1
CCC:23.5;BB:24.6;BBB:12.7;A:25.7;AAA:13.5
3.5
61.5
356
369
11.5
2.5
30
35
20
true
true
true
true
1.1
0.5
-0.02
Consumer:EW
Hedge
iTraxx_XOVER: +63bps notional
-47
3
DealerA
Electronic
1
93
-139
-315
Sector>limit
Rotate
Sector concentration above limit
195
Escalate watchlist names
C07473
CR6535
2024-11-01
Calm
119
397
3.5
1.6
2,297,894,670
Energy:22.9;RealEstate:18.8;Consumer:13.1;Tech:15.7;Comm:19.5;Industrials:9.9
US:63.9;EU:17.9;APAC:12.2;EMEA:4.5;LATAM:1.5
BBB:17.5;A:10.1;B:23.4;BB:23.4;CCC:25.6
3.68
62.6
267
198
14.3
3
35
45
35
false
true
true
true
-0.17
-0.28
0.21
null
Rotate
From Energy -1.0% to Utilities +1.0%
-4
-3
ECN2
DealerAxed
10
96
115
37
Sector>limit
Reduce
Sector concentration above limit
241
Defer adds pending macro print
C07474
CR3703
2025-06-05
Tightening
115
509
5.1
1.4
2,865,506,478
Materials:19.0;Tech:22.4;Comm:21.3;Industrials:12.5;RealEstate:17.1;Utilities:7.7
US:62.0;EU:18.6;APAC:5.9;EMEA:6.2;LATAM:7.2
B:8.0;AAA:11.6;CCC:18.0;AA:18.9;BBB:14.6;A:28.9
6.44
56.8
271
429
3.4
2
35
55
25
false
true
true
true
-0.15
1.24
0.04
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-6
43
DealerB
Electronic
12
98
321
69
Region>limit
Rotate
Regional concentration above limit
123
Escalate watchlist names
C07475
CR7476
2024-07-09
Recovery
116
453
5.8
0
52,826,381
Utilities:20.7;Comm:42.6;Financials:36.7
US:65.5;EU:11.9;APAC:9.4;EMEA:6.1;LATAM:7.1
AAA:18.5;BB:7.7;AA:19.4;A:19.6;BBB:34.9
5.86
28.4
180
142
4.5
3.5
25
35
30
true
true
false
false
0.12
0.51
-0.23
null
Rotate
From Energy -1.0% to Utilities +1.0%
-6
1
ECN1
RFQ
10
86
174
-131
Region>limit
Reduce
Regional concentration above limit
241
Escalate watchlist names
C07476
CR5617
2025-03-08
Tightening
101
409
4.8
1
516,558,111
Financials:24.5;RealEstate:44.5;Industrials:31.0
US:72.7;EU:8.2;APAC:8.7;EMEA:8.5;LATAM:1.9
BBB:40.0;AAA:26.4;AA:18.0;B:6.8;BB:8.9
5.3
31.1
134
342
17
2.5
25
55
20
true
true
false
false
0.86
0.6
0.14
Healthcare:EW
Hedge
Treasury_Futures: +51bps notional
-3
14
DealerB
RFQ
2
86
-192
-229
Sector>limit
Hedge
Sector concentration above limit
170
Defer adds pending macro print
C07477
CR2761
2025-09-24
Recovery
101
448
4.6
0.4
1,170,762,381
Consumer:19.0;Healthcare:19.2;Comm:25.3;Materials:13.7;Financials:22.8
US:66.3;EU:19.6;APAC:8.7;EMEA:4.1;LATAM:1.3
AA:16.4;A:37.4;CCC:14.5;BB:13.5;B:18.1
3.75
23.1
146
372
3.4
2
20
55
35
true
true
true
false
1.06
-0.01
-0.29
null
Hedge
SingleName_CDS: +104bps notional
-11
36
DealerC
DealerAxed
0
86
-181
-294
VAR>budget
Rotate
Portfolio VAR above budget
96
Tighten HY exposure bands
C07478
CR6542
2025-02-09
Calm
116
389
3.8
2.5
1,174,588,746
Utilities:26.3;Industrials:9.6;Comm:24.3;Tech:18.5;Consumer:13.9;Energy:7.4
US:74.9;EU:11.5;APAC:6.8;EMEA:5.2;LATAM:1.7
CCC:14.6;AAA:35.2;BB:21.1;AA:29.1
1.93
62
201
149
7.3
3
20
35
35
true
true
true
true
0.29
0.57
-0.21
null
Hedge
CDX_IG: +58bps notional
-51
10
ECN1
All2All
6
93
-177
-324
HYCap>limit
Reduce
High-yield share above policy cap
121
Escalate watchlist names
C07479
CR2764
2024-08-22
Calm
78
299
4.4
1.9
1,906,979,719
RealEstate:27.9;Comm:35.2;Utilities:36.9
US:65.1;EU:9.9;APAC:13.0;EMEA:5.6;LATAM:6.4
BB:9.9;AA:31.4;AAA:11.3;CCC:24.7;BBB:22.6
5.36
42
276
147
12.3
3
25
45
30
true
true
true
true
0.49
-0.17
0.11
null
Hedge
CDX_IG: +55bps notional
-5
17
DealerA
RFQ
12
98
410
75
VAR>budget
Hedge
Portfolio VAR above budget
95
Defer adds pending macro print
C07480
CR6125
2024-08-26
Tightening
141
483
4.1
1.6
2,722,415,378
Healthcare:41.8;Comm:24.6;Utilities:33.6
US:66.7;EU:8.7;APAC:13.9;EMEA:7.1;LATAM:3.6
BB:28.8;AAA:40.3;BBB:17.3;B:13.7
1.35
52.8
226
337
7.8
4
25
55
25
true
true
true
true
1.7
1.23
0.25
null
Rotate
From Energy -1.0% to Utilities +1.0%
-24
12
DealerB
DealerAxed
1
93
212
-346
VAR>budget
Hedge
Portfolio VAR above budget
113
Reviewed by risk; hedges staggered
C07481
CR6975
2024-10-31
Stress
233
649
7.5
-0.7
81,464,551
Utilities:6.9;Energy:26.7;Materials:15.2;Tech:30.1;RealEstate:12.3;Industrials:8.9
US:59.9;EU:15.6;APAC:14.7;EMEA:5.6;LATAM:4.2
B:23.0;CCC:8.5;AA:14.2;BB:23.4;AAA:31.0
3.5
37.1
250
501
19.7
4
20
55
30
true
true
true
true
0.95
0.39
0
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-22
31
ECN1
DealerAxed
4
99
-126
-323
VAR>budget
Rotate
Portfolio VAR above budget
160
Escalate watchlist names
C07482
CR2288
2024-10-17
Tightening
109
401
4.6
1.9
87,715,944
Financials:22.2;RealEstate:23.5;Utilities:19.1;Healthcare:11.1;Industrials:24.1
US:65.3;EU:13.8;APAC:8.9;EMEA:7.9;LATAM:4.1
AAA:18.7;A:29.5;B:30.3;BB:21.5
5.46
26.7
161
274
5.6
2
20
45
20
true
true
true
false
1.89
0.06
0.48
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-58
16
DealerC
RFQ
6
97
-90
-263
HYCap>limit
Rotate
High-yield share above policy cap
131
Rotate into defensive sectors
C07483
CR1074
2025-10-14
Calm
71
367
3.3
2
1,687,527,995
Tech:16.5;Industrials:67.9;Comm:15.6
US:67.2;EU:6.1;APAC:13.7;EMEA:6.3;LATAM:6.7
A:28.7;BB:30.3;CCC:24.5;BBB:16.6
1.77
46.4
238
164
12.1
2.5
35
35
35
true
true
true
true
0.91
1.67
-0.15
Healthcare:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-36
20
DealerC
Electronic
6
94
-15
-26
Sector>limit
Hedge
Sector concentration above limit
164
Defer adds pending macro print
C07484
CR8884
2025-08-02
Tightening
101
370
5
0.9
1,245,591,283
Tech:6.5;Comm:28.9;Utilities:24.7;Energy:20.2;Healthcare:19.6
US:61.4;EU:13.8;APAC:6.8;EMEA:10.4;LATAM:7.6
AA:10.4;A:21.3;B:18.5;BBB:16.9;AAA:9.9;CCC:23.0
3.16
51.3
197
310
11.2
3.5
30
35
35
false
true
true
false
-0.26
1.68
-0.08
Financials:EW
Hedge
Options_Payer: +122bps notional
-12
6
DealerB
Electronic
11
100
273
-413
Sector>limit
Reduce
Sector concentration above limit
211
Defer adds pending macro print
C07485
CR5500
2024-12-19
Recovery
101
480
5.5
0.7
1,266,145,719
Comm:21.3;Consumer:12.9;Materials:15.4;Industrials:14.4;Utilities:11.4;Tech:24.5
US:63.2;EU:15.1;APAC:12.9;EMEA:4.6;LATAM:4.4
AAA:15.8;BBB:13.5;CCC:34.3;B:13.7;A:14.6;AA:8.0
3.94
53
91
446
5.2
2
30
55
25
false
true
true
false
-0.3
1.37
-0.33
Healthcare:EW
Rotate
From Energy -1.0% to Utilities +1.0%
3
11
ECN2
RFQ
2
93
373
73
Region>limit
Reduce
Regional concentration above limit
182
Defer adds pending macro print
C07486
CR1162
2025-03-06
Calm
95
289
4.4
2.2
2,467,605,334
Healthcare:30.3;Utilities:17.2;Consumer:12.0;Comm:12.2;Energy:28.3
US:65.7;EU:11.8;APAC:6.1;EMEA:10.9;LATAM:5.5
BB:17.8;A:45.4;B:5.3;AAA:31.5
5.91
32
85
128
8.4
2
30
55
30
true
true
false
false
0.5
0.76
0.57
Financials:EW;Materials:EW
Hedge
Treasury_Futures: +139bps notional
-13
-21
DealerA
Electronic
9
98
359
-118
Region>limit
Hedge
Regional concentration above limit
253
Reviewed by risk; hedges staggered
C07487
CR5208
2024-02-18
Recovery
105
447
6.4
1.3
1,565,701,606
Tech:39.1;Comm:18.6;Consumer:42.3
US:75.2;EU:9.5;APAC:7.9;EMEA:6.3;LATAM:1.2
B:18.7;AAA:14.0;A:14.5;CCC:24.0;BB:21.4;BBB:7.3
6.48
41
187
397
13.8
4
30
45
20
true
true
true
false
-0.44
-0.12
-0.29
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
17
3
DealerB
All2All
5
95
-152
-356
HYCap>limit
Reduce
High-yield share above policy cap
153
Tighten HY exposure bands
C07488
CR8303
2025-01-02
Recovery
133
431
5.5
0
2,399,730,487
Utilities:22.0;Consumer:18.2;Comm:12.6;Energy:29.9;Industrials:17.3
US:67.3;EU:14.7;APAC:12.6;EMEA:3.5;LATAM:1.9
AA:19.9;AAA:7.7;CCC:25.9;B:22.5;A:24.0
5.33
32.1
167
476
4.1
2.5
35
35
25
false
true
true
false
0.99
0.01
-0.15
Healthcare:EW;Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
7
22
DealerB
Electronic
9
94
86
-119
Region>limit
Hedge
Regional concentration above limit
123
Rotate into defensive sectors
C07489
CR1323
2025-07-06
Tightening
137
474
3.9
1.6
2,311,561,473
Tech:40.8;Energy:33.2;RealEstate:15.0;Financials:11.0
US:72.1;EU:6.2;APAC:12.2;EMEA:3.8;LATAM:5.6
B:38.8;AAA:17.4;AA:26.1;A:17.7
2.79
34.2
245
302
17.1
4
20
45
20
true
true
true
true
-0.2
0.78
0.59
null
Rotate
From Energy -1.0% to Utilities +1.0%
-37
-22
ECN2
DealerAxed
0
96
304
172
Sector>limit
Reduce
Sector concentration above limit
256
Tighten HY exposure bands
C07490
CR4731
2025-01-17
Recovery
137
625
6.1
0.2
427,846,447
Consumer:21.0;Energy:25.1;RealEstate:12.0;Utilities:41.9
US:58.7;EU:20.0;APAC:10.8;EMEA:7.4;LATAM:3.1
AA:38.2;BB:22.4;AAA:9.9;B:29.5
0.94
27.3
151
135
3.5
3.5
35
35
35
true
true
true
false
0.47
1.03
0.01
Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-8
8
DealerC
Electronic
10
88
37
-390
Sector>limit
Hedge
Sector concentration above limit
249
Tighten HY exposure bands
C07491
CR6565
2025-03-14
Tightening
153
372
4.8
0.7
975,853,132
Healthcare:21.1;Financials:18.5;Tech:19.5;Comm:8.2;Consumer:32.7
US:65.0;EU:14.1;APAC:10.4;EMEA:9.5;LATAM:1.0
CCC:30.2;BB:11.4;B:28.7;A:29.7
4.07
38.7
275
165
5.8
2.5
25
55
20
true
true
true
true
0.74
-0.06
-0.2
Materials:EW
Hedge
CDX_HY: +89bps notional
-22
-9
DealerC
All2All
1
93
299
97
Region>limit
Reduce
Regional concentration above limit
197
Tighten HY exposure bands
C07492
CR2766
2024-05-06
Calm
65
313
3.3
1.9
676,564,172
Financials:44.0;Materials:11.5;Utilities:44.5
US:54.8;EU:12.7;APAC:15.2;EMEA:10.5;LATAM:6.7
CCC:21.9;A:27.5;AAA:20.9;BBB:29.8
4.68
51.1
90
426
8.6
3.5
35
35
35
true
true
false
false
0.55
1.76
0.21
Energy:EW;Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
12
-20
DealerA
Electronic
8
89
390
-379
HYCap>limit
Reduce
High-yield share above policy cap
221
Rotate into defensive sectors
C07493
CR7924
2025-07-15
Recovery
136
603
6
1.7
207,114,489
Utilities:15.9;Energy:22.4;Materials:13.7;Consumer:13.1;Healthcare:12.3;Comm:22.6
US:71.8;EU:5.2;APAC:13.1;EMEA:6.7;LATAM:3.2
A:37.3;CCC:12.8;BB:11.2;B:12.1;BBB:15.9;AAA:10.7
3.81
59.1
83
235
13.3
3.5
25
45
35
false
true
true
false
0.86
-0.07
-0.07
Healthcare:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-47
28
DealerC
Electronic
2
97
-149
-64
VAR>budget
Hedge
Portfolio VAR above budget
165
Tighten HY exposure bands
C07494
CR6372
2024-09-05
Calm
104
414
4.1
2.8
2,264,072,962
Consumer:26.4;Utilities:16.2;Healthcare:27.0;Industrials:10.3;Comm:20.1
US:72.0;EU:11.6;APAC:9.0;EMEA:5.8;LATAM:1.5
AAA:9.0;B:23.3;BB:26.0;A:14.4;CCC:27.3
5.98
24.2
164
234
11.1
2
35
45
35
false
true
true
false
1.06
1.01
0.11
null
Hedge
Options_Payer: +121bps notional
-51
24
DealerA
RFQ
4
92
-23
-254
HYCap>limit
Hedge
High-yield share above policy cap
181
Defer adds pending macro print
C07495
CR9750
2025-01-21
Stress
158
839
5.5
-0.9
1,784,355,567
Industrials:28.1;Healthcare:26.5;Energy:34.2;Tech:11.3
US:59.5;EU:19.5;APAC:12.6;EMEA:4.9;LATAM:3.5
AA:27.6;A:15.1;AAA:25.6;B:8.3;BBB:18.4;BB:5.0
4.11
57.7
269
628
18.2
3
35
35
30
false
true
false
true
0.5
0.04
-0.39
Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-38
6
DealerB
All2All
4
97
255
178
Region>limit
Reduce
Regional concentration above limit
163
Escalate watchlist names
C07496
CR6752
2025-10-24
Tightening
94
501
4
1.1
1,218,741,811
Healthcare:49.4;Materials:12.0;Utilities:38.6
US:72.9;EU:9.5;APAC:8.3;EMEA:5.8;LATAM:3.5
AAA:18.9;CCC:19.7;AA:23.5;BBB:29.6;BB:8.4
7.1
30.4
150
364
12.2
3
30
45
30
true
true
false
false
2.31
1.58
0.27
Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-50
38
DealerC
DealerAxed
8
99
20
36
Region>limit
Rotate
Regional concentration above limit
178
Tighten HY exposure bands
C07497
CR4342
2025-06-11
Stress
145
768
6.7
0.5
2,495,894,990
Consumer:15.8;Energy:9.1;Healthcare:18.9;Tech:12.3;RealEstate:9.9;Industrials:34.0
US:57.3;EU:15.2;APAC:14.5;EMEA:5.4;LATAM:7.6
AA:20.9;AAA:33.3;BB:16.6;BBB:17.0;B:12.2
1.58
49.5
274
405
16.5
2.5
30
35
35
true
true
false
true
1.16
1.47
0.14
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-20
45
DealerA
All2All
4
89
-135
-377
VAR>budget
Rotate
Portfolio VAR above budget
92
Tighten HY exposure bands
C07498
CR5605
2025-07-06
Stress
235
829
6.3
-0.9
409,512,766
Tech:26.4;Comm:19.4;Financials:37.1;RealEstate:17.1
US:69.6;EU:11.6;APAC:11.9;EMEA:2.8;LATAM:4.2
BB:29.4;CCC:19.9;BBB:7.4;B:10.7;AA:11.9;AAA:20.8
5
48.5
388
490
19
2
35
35
20
true
true
true
true
-0.03
1.21
0.22
Comm:EW
Hedge
Options_Payer: +98bps notional
-18
-13
ECN1
RFQ
12
85
309
-292
HYCap>limit
Rotate
High-yield share above policy cap
190
Tighten HY exposure bands
C07499
CR3815
2025-11-28
Calm
90
321
4.4
1.7
2,557,610,000
Healthcare:30.3;Financials:23.9;Materials:34.9;Energy:10.9
US:60.9;EU:10.9;APAC:10.7;EMEA:10.8;LATAM:6.8
AA:27.7;CCC:17.1;A:15.5;AAA:28.6;BB:11.0
2.77
25
268
212
6.3
2
25
45
20
true
true
true
true
0.34
-0.04
0.08
Utilities:EW;Consumer:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-12
-19
DealerA
RFQ
6
94
-59
109
Sector>limit
Hedge
Sector concentration above limit
147
Rotate into defensive sectors
C07500
CR0872
2025-10-04
Calm
118
395
3.3
2.3
575,078,821
Financials:24.4;Healthcare:44.7;Industrials:30.9
US:74.2;EU:6.4;APAC:8.8;EMEA:6.9;LATAM:3.7
BB:6.0;BBB:29.4;A:32.5;AAA:19.4;B:12.7
4.28
25.3
144
250
11.3
3.5
25
35
25
true
true
false
false
1.31
0.16
0.58
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-13
-17
ECN2
Electronic
4
85
373
27
HYCap>limit
Hedge
High-yield share above policy cap
128
Reviewed by risk; hedges staggered