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
C08201
CR4765
2024-03-11
Calm
84
373
4.4
1.6
1,838,072,304
RealEstate:9.8;Industrials:21.7;Consumer:23.4;Healthcare:8.8;Comm:24.6;Tech:11.7
US:62.8;EU:10.1;APAC:15.0;EMEA:7.0;LATAM:5.1
BB:14.9;A:9.2;BBB:7.9;B:23.0;AA:17.7;CCC:27.4
4.99
35.8
274
186
11.6
2
25
55
20
false
true
true
true
2.04
0.48
0.38
Utilities:EW;Energy:EW
Hedge
CDX_IG: +147bps notional
-21
9
ECN2
DealerAxed
0
86
383
185
Region>limit
Reduce
Regional concentration above limit
205
Defer adds pending macro print
C08202
CR5099
2024-11-30
Recovery
175
449
5.3
1.2
2,471,728,535
Industrials:12.0;Healthcare:17.3;Energy:28.4;Consumer:42.3
US:76.1;EU:6.1;APAC:5.5;EMEA:9.1;LATAM:3.2
CCC:29.5;B:17.6;BB:34.5;BBB:18.4
1.85
56.5
104
503
6.3
3
35
35
25
true
true
true
false
0.24
1.49
-0.01
Materials:EW
Hedge
Treasury_Futures: +95bps notional
-29
9
DealerB
All2All
5
88
84
-155
Sector>limit
Hedge
Sector concentration above limit
132
Escalate watchlist names
C08203
CR3148
2024-05-29
Stress
190
721
6.7
-1.7
424,649,936
Materials:12.2;Healthcare:22.0;Energy:24.9;Consumer:11.0;Industrials:11.2;Tech:18.7
US:68.2;EU:13.7;APAC:11.4;EMEA:5.2;LATAM:1.5
B:18.5;A:13.7;AAA:12.8;CCC:29.7;BB:25.3
4.09
29.5
151
397
11.9
4
35
35
20
false
true
true
false
2.01
1.41
-0.03
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-57
18
DealerC
DealerAxed
10
98
223
-338
HYCap>limit
Hedge
High-yield share above policy cap
177
Defer adds pending macro print
C08204
CR8317
2024-05-22
Tightening
93
520
4.4
1.4
653,072,212
Tech:23.5;Utilities:13.9;Industrials:19.5;Healthcare:16.5;Consumer:17.5;Comm:9.2
US:61.2;EU:10.4;APAC:13.9;EMEA:8.9;LATAM:5.5
A:32.1;BBB:26.4;B:12.9;AA:28.6
1.86
62.4
193
168
2.8
3.5
25
55
20
false
true
false
false
1.23
1.52
0.06
null
Hedge
Treasury_Futures: +178bps notional
-35
36
ECN2
All2All
0
85
100
-464
VAR>budget
Reduce
Portfolio VAR above budget
238
Reviewed by risk; hedges staggered
C08205
CR7774
2024-01-15
Calm
110
287
3.7
2.3
2,570,667,821
Comm:29.6;RealEstate:33.2;Utilities:37.2
US:74.4;EU:8.0;APAC:11.0;EMEA:4.7;LATAM:1.9
AA:28.6;AAA:17.8;BBB:41.9;BB:11.7
7.02
64
158
193
14.5
2.5
20
55
25
true
true
false
false
0.35
1.71
-0.06
null
Hedge
Treasury_Futures: +63bps notional
-54
23
DealerB
DealerAxed
2
91
-15
-357
Sector>limit
Hedge
Sector concentration above limit
108
Escalate watchlist names
C08206
CR1050
2024-09-18
Tightening
130
462
4
1.7
187,784,989
Consumer:14.1;Financials:13.4;Materials:20.2;Tech:20.1;Industrials:11.6;Energy:20.6
US:70.5;EU:5.7;APAC:10.8;EMEA:7.0;LATAM:6.1
B:21.3;CCC:32.0;BB:15.0;A:17.9;BBB:13.7
4.78
42.3
234
165
2.8
2.5
30
55
35
false
true
true
true
1.56
0.54
0.22
null
Hedge
SingleName_CDS: +186bps notional
-15
0
DealerB
All2All
2
89
166
-304
HYCap>limit
Hedge
High-yield share above policy cap
113
Tighten HY exposure bands
C08207
CR7299
2025-08-20
Stress
224
804
5.3
-1.7
1,534,959,797
Materials:23.0;Energy:14.2;Financials:12.4;Tech:7.8;RealEstate:23.4;Utilities:19.2
US:70.1;EU:8.4;APAC:7.0;EMEA:5.6;LATAM:8.8
AAA:31.0;BB:21.4;A:16.0;B:31.6
2.9
33.2
194
460
14.8
2.5
25
35
35
false
true
true
false
2.41
-0.01
0.26
null
Rotate
From Energy -1.0% to Utilities +1.0%
-14
-9
DealerA
Electronic
12
86
-170
-7
Region>limit
PauseAdds
Regional concentration above limit
146
Tighten HY exposure bands
C08208
CR9852
2025-12-19
Calm
117
347
4
1.5
717,452,982
Consumer:18.3;Industrials:11.0;Healthcare:25.2;Energy:28.7;Comm:16.7
US:66.8;EU:11.2;APAC:8.9;EMEA:8.3;LATAM:4.9
AA:12.8;BBB:28.4;AAA:36.7;BB:8.4;B:13.6
1.45
30.7
119
409
5.3
3.5
25
35
35
true
true
false
false
1.14
1.24
0.38
Financials:EW;Comm:EW
Hedge
iTraxx_MAIN: +139bps notional
-27
27
ECN2
RFQ
1
97
323
-284
HYCap>limit
Hedge
High-yield share above policy cap
142
Tighten HY exposure bands
C08209
CR5353
2024-08-09
Tightening
125
416
4.6
1.5
634,847,601
Industrials:15.4;Energy:22.0;Materials:18.7;Financials:23.7;Tech:20.2
US:59.6;EU:17.6;APAC:10.7;EMEA:7.7;LATAM:4.4
B:32.8;AAA:15.8;A:13.1;AA:10.5;BBB:27.8
2.4
63.6
80
151
17
3.5
30
35
30
false
true
true
false
1.97
-0.08
0.05
Comm:EW;Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-33
-1
ECN1
RFQ
11
99
358
81
Sector>limit
Reduce
Sector concentration above limit
179
Reviewed by risk; hedges staggered
C08210
CR0984
2025-10-03
Recovery
166
430
5.8
-0.2
943,294,178
Materials:28.7;Tech:21.8;Industrials:21.3;Financials:16.9;RealEstate:11.3
US:61.9;EU:13.8;APAC:7.2;EMEA:10.5;LATAM:6.5
B:11.0;CCC:8.2;AAA:38.4;A:11.2;BB:11.6;AA:19.6
1.42
37.2
187
517
2.8
3.5
35
35
20
false
true
true
false
1.25
1.66
0.44
Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
7
18
DealerB
DealerAxed
6
89
114
-4
HYCap>limit
Reduce
High-yield share above policy cap
121
Tighten HY exposure bands
C08211
CR8439
2024-08-30
Calm
102
281
4.3
2.4
1,724,401,780
Energy:37.7;RealEstate:11.3;Consumer:39.6;Financials:11.4
US:76.9;EU:6.9;APAC:8.9;EMEA:4.0;LATAM:3.5
CCC:9.7;BBB:17.6;AA:18.6;A:23.4;AAA:24.3;BB:6.4
0.69
22.6
244
146
5.9
3.5
35
55
20
true
true
false
true
0.64
0.1
0.33
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
9
6
ECN1
DealerAxed
1
91
-5
64
VAR>budget
Hedge
Portfolio VAR above budget
235
Defer adds pending macro print
C08212
CR9147
2025-10-23
Tightening
143
454
4.4
0.7
760,691,973
Utilities:18.8;Materials:37.8;Financials:19.3;RealEstate:24.2
US:71.6;EU:7.4;APAC:12.4;EMEA:3.1;LATAM:5.5
AAA:30.3;B:9.7;BBB:18.0;A:13.5;CCC:10.7;AA:17.7
0.7
51.4
227
501
14
3.5
25
35
35
true
true
false
true
0.09
1.43
0.31
Consumer:EW;Comm:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-1
27
DealerC
Electronic
12
90
256
-198
VAR>budget
Hedge
Portfolio VAR above budget
203
Defer adds pending macro print
C08213
CR9165
2024-08-02
Stress
183
824
5.4
-1.1
766,859,910
Consumer:29.1;Comm:23.5;Healthcare:11.8;Energy:12.7;Tech:11.6;RealEstate:11.4
US:65.0;EU:8.1;APAC:10.9;EMEA:9.2;LATAM:6.7
AAA:19.7;BBB:27.3;A:33.8;B:6.4;BB:5.6;CCC:7.3
0.45
47.8
319
324
16.7
3.5
35
35
35
false
true
false
true
1.4
0.83
0.12
Materials:EW
Hedge
Treasury_Futures: +86bps notional
-31
-5
DealerB
DealerAxed
1
87
237
-132
Sector>limit
Hedge
Sector concentration above limit
131
Tighten HY exposure bands
C08214
CR4098
2024-04-28
Recovery
154
522
5.1
-0.5
2,193,297,116
RealEstate:19.6;Utilities:47.5;Materials:33.0
US:59.0;EU:17.4;APAC:13.3;EMEA:10.2;LATAM:0.0
AA:12.9;CCC:11.8;B:35.7;AAA:21.7;BB:17.9
1.02
57.5
86
143
7.3
4
35
45
25
true
true
true
false
0.69
0.49
0.53
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-47
35
ECN1
Electronic
7
92
191
-3
Sector>limit
Reduce
Sector concentration above limit
230
Rotate into defensive sectors
C08215
CR7330
2025-11-09
Calm
101
315
4.3
2.2
542,097,969
Tech:25.2;Financials:12.9;Healthcare:29.8;Consumer:14.1;Comm:18.0
US:71.8;EU:12.6;APAC:8.6;EMEA:3.4;LATAM:3.6
AA:12.8;A:26.0;BB:23.8;BBB:37.3
7.41
60.6
106
154
10.3
2.5
20
35
25
true
true
false
false
1.55
-0.1
-0.05
Utilities:EW;RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-4
27
DealerB
DealerAxed
12
85
345
-268
VAR>budget
Hedge
Portfolio VAR above budget
237
Defer adds pending macro print
C08216
CR6957
2024-12-19
Calm
99
320
4.1
2.9
946,093,738
Comm:49.2;RealEstate:24.9;Energy:25.9
US:65.7;EU:8.0;APAC:10.5;EMEA:9.1;LATAM:6.7
A:15.9;B:31.9;BBB:28.5;AAA:23.7
5.65
35.1
260
430
14.3
3.5
30
45
25
true
true
true
true
-0.15
0.61
-0.02
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
15
3
DealerC
All2All
8
96
152
-253
Sector>limit
Rotate
Sector concentration above limit
185
Escalate watchlist names
C08217
CR6854
2025-03-30
Recovery
115
482
6.1
0.6
2,211,134,578
Materials:18.0;Healthcare:25.4;Utilities:22.6;Tech:34.1
US:63.9;EU:15.1;APAC:8.8;EMEA:4.7;LATAM:7.4
CCC:21.2;BB:24.2;AAA:18.1;AA:18.9;B:9.9;BBB:7.8
0.84
34
262
389
10.9
3.5
30
35
20
true
true
true
true
1.97
1.49
0.32
Financials:EW;Tech:EW
Hedge
CDX_HY: +57bps notional
-58
19
DealerB
All2All
0
99
297
-232
HYCap>limit
Rotate
High-yield share above policy cap
178
Defer adds pending macro print
C08218
CR1924
2024-10-25
Calm
83
398
4.4
2.5
827,672,280
Comm:34.5;Utilities:33.6;Healthcare:32.0
US:65.9;EU:11.0;APAC:7.0;EMEA:9.2;LATAM:6.8
B:22.2;AA:13.6;AAA:10.6;BBB:14.0;A:23.0;CCC:16.5
4.96
29.8
100
385
5.4
3
20
55
30
true
true
true
false
1.15
0.29
-0.07
Comm:EW
Hedge
iTraxx_MAIN: +161bps notional
-16
15
ECN2
DealerAxed
6
87
180
-232
VAR>budget
Reduce
Portfolio VAR above budget
94
Rotate into defensive sectors
C08219
CR8969
2025-08-02
Recovery
133
458
5.4
0.9
2,739,391,815
Consumer:19.0;Utilities:16.3;Financials:20.3;Healthcare:6.9;Tech:18.9;Comm:18.6
US:63.1;EU:10.1;APAC:10.7;EMEA:10.3;LATAM:5.8
AAA:31.7;AA:20.0;BB:18.2;BBB:8.4;CCC:21.7
5.17
22.9
113
402
12.3
2
30
35
30
false
true
true
false
0.22
0.59
-0.36
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
20
8
ECN2
RFQ
11
97
351
-380
HYCap>limit
Hedge
High-yield share above policy cap
214
Escalate watchlist names
C08220
CR7881
2024-12-14
Calm
116
343
3.8
1.9
418,836,066
Consumer:15.2;Energy:9.1;Materials:9.2;Industrials:17.4;Utilities:38.2;Healthcare:10.8
US:69.0;EU:11.2;APAC:8.7;EMEA:5.6;LATAM:5.5
A:18.3;AAA:30.9;BBB:19.7;B:15.4;CCC:15.6
7.19
29.2
170
438
16.4
3.5
35
45
20
true
true
true
false
0.19
-0.16
0.49
null
Hedge
CDX_HY: +199bps notional
-51
-10
DealerB
Electronic
1
97
138
59
Region>limit
Reduce
Regional concentration above limit
216
Rotate into defensive sectors
C08221
CR0040
2025-09-13
Calm
89
401
3.8
2.6
1,994,314,786
Materials:8.7;Financials:24.7;Utilities:20.2;Consumer:23.2;Healthcare:7.4;Energy:15.9
US:63.9;EU:16.2;APAC:9.1;EMEA:6.1;LATAM:4.6
AAA:6.4;AA:25.1;BB:12.6;CCC:10.3;BBB:23.0;A:22.7
3.36
51.9
223
203
2.7
2
25
45
35
false
true
false
true
0.1
0.25
-0.08
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-28
42
DealerA
RFQ
2
96
140
-149
Sector>limit
Hedge
Sector concentration above limit
156
Defer adds pending macro print
C08222
CR7225
2025-02-28
Tightening
98
482
4.2
0.8
2,834,115,950
Energy:26.1;Consumer:19.1;Healthcare:17.2;RealEstate:8.9;Financials:28.7
US:58.8;EU:13.7;APAC:14.7;EMEA:9.3;LATAM:3.5
AAA:29.9;CCC:19.4;AA:17.3;A:33.4
6.25
51.5
85
199
6.6
2.5
20
45
20
true
true
false
false
1.21
0.09
-0.21
Utilities:EW
Hedge
iTraxx_MAIN: +138bps notional
-16
-14
ECN1
Electronic
1
86
39
-406
HYCap>limit
Hedge
High-yield share above policy cap
181
Rotate into defensive sectors
C08223
CR6686
2024-02-16
Calm
96
312
4.2
2.8
1,506,581,044
Financials:8.1;Comm:13.0;RealEstate:17.4;Tech:22.4;Utilities:12.2;Energy:27.0
US:55.9;EU:17.1;APAC:9.8;EMEA:10.2;LATAM:6.9
A:43.7;AA:22.3;BB:19.2;AAA:14.8
5.21
50.8
264
486
12.7
4
25
55
35
true
true
false
true
1.14
1.65
-0.33
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
12
10
DealerC
DealerAxed
9
90
-51
-386
Sector>limit
Reduce
Sector concentration above limit
107
Defer adds pending macro print
C08224
CR2822
2024-01-19
Tightening
107
384
4.7
1.7
96,680,597
Utilities:47.3;Healthcare:23.7;Consumer:29.0
US:63.7;EU:9.7;APAC:11.5;EMEA:11.4;LATAM:3.6
B:33.8;AAA:17.9;A:9.2;CCC:26.9;BB:12.2
1.37
30.2
278
197
3.9
3
35
55
20
true
true
true
true
1.96
1.25
-0.2
Healthcare:EW;Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
11
23
DealerB
DealerAxed
8
87
314
-367
Sector>limit
Hedge
Sector concentration above limit
94
Tighten HY exposure bands
C08225
CR6063
2025-06-13
Recovery
171
563
6.5
0.8
266,154,913
Industrials:41.7;RealEstate:37.3;Consumer:21.0
US:55.0;EU:19.5;APAC:9.7;EMEA:8.2;LATAM:7.5
CCC:20.8;BBB:32.7;A:15.4;BB:12.4;B:18.8
6.79
59.9
200
229
10.4
3
25
35
35
true
true
true
false
-0.07
0.56
0.42
Utilities:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-30
35
DealerA
DealerAxed
7
86
372
-94
VAR>budget
Rotate
Portfolio VAR above budget
90
Reviewed by risk; hedges staggered
C08226
CR6575
2025-08-25
Stress
241
847
7.5
-1.3
1,975,743,415
Tech:21.0;Healthcare:24.6;Industrials:30.8;Consumer:7.5;Comm:16.2
US:73.7;EU:8.1;APAC:13.2;EMEA:4.7;LATAM:0.3
AA:29.3;BBB:20.7;AAA:20.1;B:21.3;CCC:8.6
4.71
50
352
618
7.7
2.5
20
55
25
true
true
true
true
1.38
0.76
-0.06
null
Hedge
CDX_HY: +105bps notional
-52
16
ECN2
All2All
1
93
235
-203
Sector>limit
Hedge
Sector concentration above limit
195
Reviewed by risk; hedges staggered
C08227
CR2430
2024-02-05
Calm
104
364
4.3
2.7
81,458,215
Industrials:34.8;Financials:35.6;RealEstate:29.6
US:63.1;EU:17.4;APAC:10.7;EMEA:6.8;LATAM:1.9
BB:18.7;AAA:16.8;B:23.6;BBB:18.0;A:7.0;CCC:15.9
4.92
27.6
114
146
15.7
2
25
45
30
true
true
true
false
1.5
-0.02
-0.13
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
1
38
ECN1
RFQ
2
100
186
-325
Sector>limit
Reduce
Sector concentration above limit
97
Defer adds pending macro print
C08228
CR9930
2025-08-28
Stress
237
616
6.1
-1.8
2,016,055,144
Healthcare:15.3;Financials:26.3;Comm:9.8;Consumer:18.9;Tech:29.7
US:67.1;EU:12.4;APAC:9.6;EMEA:8.6;LATAM:2.3
A:21.2;BB:18.5;CCC:15.3;B:45.0
4.99
53.5
207
369
10.1
4
35
55
35
false
true
true
true
0.37
0.33
0.08
Healthcare:EW
Hedge
Treasury_Futures: +81bps notional
-58
14
ECN2
RFQ
1
85
219
46
VAR>budget
Reduce
Portfolio VAR above budget
198
Reviewed by risk; hedges staggered
C08229
CR9073
2024-11-01
Stress
246
701
6.4
-0.1
1,964,106,563
Consumer:23.9;Tech:59.1;Comm:17.0
US:70.6;EU:9.5;APAC:9.1;EMEA:6.9;LATAM:3.9
A:20.6;BBB:42.1;AA:26.7;CCC:10.6
2.98
45.1
241
292
6.7
3
30
45
20
true
true
false
true
2.42
-0.12
0.47
Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-35
30
ECN1
RFQ
12
88
45
-2
HYCap>limit
Hedge
High-yield share above policy cap
164
Defer adds pending macro print
C08230
CR0234
2024-10-25
Recovery
154
568
5.2
1.4
2,084,926,242
Tech:19.5;Financials:16.8;Industrials:21.8;Comm:8.0;Healthcare:12.3;Energy:21.6
US:63.5;EU:5.2;APAC:13.5;EMEA:11.2;LATAM:6.6
A:35.8;AA:35.0;B:15.2;AAA:14.0
1.39
64.7
221
256
10.5
2
30
35
25
false
true
false
true
1.32
1.39
0.02
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-39
-4
DealerA
DealerAxed
10
95
81
-272
Sector>limit
Rotate
Sector concentration above limit
141
Escalate watchlist names
C08231
CR0917
2024-07-28
Tightening
152
437
5
1.6
2,218,586,100
Healthcare:17.3;Consumer:20.0;Energy:7.0;Industrials:20.2;Tech:16.2;Utilities:19.3
US:71.7;EU:14.6;APAC:7.7;EMEA:5.3;LATAM:0.8
A:21.6;BBB:22.9;CCC:17.3;B:13.2;BB:25.1
1.62
48.9
93
468
3.6
3.5
20
45
20
true
true
true
false
2.33
0.3
0.21
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-22
29
ECN1
All2All
2
94
37
-85
HYCap>limit
Hedge
High-yield share above policy cap
124
Defer adds pending macro print
C08232
CR9804
2024-04-07
Tightening
105
434
5.1
1.7
1,299,866,185
Energy:19.3;Comm:18.8;Utilities:31.8;Tech:8.6;Industrials:21.5
US:71.6;EU:7.5;APAC:6.2;EMEA:7.3;LATAM:7.3
CCC:29.3;A:18.7;AA:15.3;BBB:36.8
5.77
38.6
106
402
2.8
3
35
55
20
false
true
true
false
1.25
1.02
-0.21
null
Hedge
Options_Payer: +61bps notional
-11
43
ECN2
All2All
2
85
-21
168
VAR>budget
Reduce
Portfolio VAR above budget
181
Defer adds pending macro print
C08233
CR9022
2025-02-09
Recovery
168
589
5.7
1.8
2,768,484,656
Materials:7.5;Healthcare:12.5;Financials:26.8;Industrials:30.2;Utilities:22.9
US:67.0;EU:6.9;APAC:7.8;EMEA:8.7;LATAM:9.6
A:21.5;B:12.6;CCC:14.2;BB:26.9;AAA:24.8
6.54
39
237
253
3.2
3
35
45
30
false
true
true
true
2.39
-0.13
0.04
Energy:EW;RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-31
0
ECN1
Electronic
0
96
157
-362
HYCap>limit
Rotate
High-yield share above policy cap
209
Escalate watchlist names
C08234
CR1254
2024-12-02
Stress
250
716
5.8
-1.4
1,999,972,228
RealEstate:31.6;Industrials:14.9;Tech:33.7;Materials:19.8
US:66.6;EU:14.0;APAC:10.3;EMEA:7.8;LATAM:1.3
AAA:18.8;AA:20.6;A:17.7;BB:26.2;CCC:16.7
3.46
29
226
331
10.1
4
35
45
30
false
true
true
true
0.75
0.52
0.12
Materials:EW
Hedge
CDX_HY: +166bps notional
-2
14
DealerA
DealerAxed
7
98
-20
-51
HYCap>limit
Hedge
High-yield share above policy cap
110
Reviewed by risk; hedges staggered
C08235
CR2049
2024-01-31
Recovery
170
519
6.3
1.1
1,950,556,775
Utilities:30.8;Materials:31.5;Comm:37.7
US:72.8;EU:10.2;APAC:5.8;EMEA:3.4;LATAM:7.8
AAA:17.2;A:29.1;BBB:20.6;B:33.1
0.5
26.4
269
464
5.7
2
25
45
25
true
true
true
true
2.2
1.28
-0.38
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-44
10
ECN2
DealerAxed
10
93
281
-238
HYCap>limit
Reduce
High-yield share above policy cap
126
Defer adds pending macro print
C08236
CR9277
2024-06-22
Stress
251
567
6.2
0.5
661,458,822
RealEstate:16.5;Financials:23.8;Comm:29.7;Materials:30.0
US:71.8;EU:7.2;APAC:11.3;EMEA:8.9;LATAM:0.8
B:8.8;BBB:34.7;CCC:4.5;BB:6.9;AA:10.1;A:34.9
1.36
20.5
198
631
6.4
4
35
35
25
false
true
false
false
0.02
0.5
0.42
Tech:EW
Hedge
Treasury_Futures: +66bps notional
7
-19
DealerB
RFQ
11
86
-156
97
Region>limit
Reduce
Regional concentration above limit
131
Rotate into defensive sectors
C08237
CR7570
2025-03-18
Stress
228
574
7.9
-2
743,449,800
Tech:30.2;Energy:23.2;Healthcare:14.4;Industrials:32.2
US:66.7;EU:10.7;APAC:14.0;EMEA:3.9;LATAM:4.7
CCC:14.3;B:7.3;AA:14.1;AAA:19.2;BBB:13.8;BB:31.3
3.79
35.4
229
372
12.2
2
25
55
20
true
true
true
true
0.34
1.1
-0.06
Tech:EW
Hedge
iTraxx_MAIN: +59bps notional
-4
-15
DealerA
DealerAxed
6
93
181
-336
Region>limit
Reduce
Regional concentration above limit
132
Tighten HY exposure bands
C08238
CR0422
2025-09-27
Calm
96
376
3.3
1.7
850,808,479
Healthcare:22.1;Comm:31.9;Consumer:45.9
US:67.4;EU:17.2;APAC:8.9;EMEA:4.5;LATAM:2.0
A:33.1;BBB:30.2;B:25.4;AAA:11.4
2
27.1
163
470
14.3
2.5
20
55
20
true
true
true
false
0.06
0.17
0.45
Industrials:EW
Hedge
Options_Payer: +195bps notional
-60
-17
DealerC
Electronic
1
92
55
-191
Sector>limit
Hedge
Sector concentration above limit
161
Defer adds pending macro print
C08239
CR1510
2025-12-10
Calm
84
368
3.7
1.5
1,536,548,068
Tech:40.9;Energy:17.1;RealEstate:42.0
US:59.2;EU:18.8;APAC:11.3;EMEA:7.4;LATAM:3.4
AA:20.0;AAA:31.0;BBB:24.7;CCC:9.7;BB:14.5
3.54
53.3
172
128
10.2
2
25
55
35
true
true
false
false
0.54
1.11
0.36
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-13
13
ECN1
RFQ
12
96
273
-103
HYCap>limit
Rotate
High-yield share above policy cap
118
Tighten HY exposure bands
C08240
CR6333
2025-05-21
Calm
97
380
4.3
1.5
1,216,317,415
Consumer:14.5;Tech:25.0;RealEstate:7.9;Healthcare:23.9;Materials:18.0;Utilities:10.7
US:71.6;EU:11.6;APAC:5.5;EMEA:9.3;LATAM:1.9
A:35.5;BBB:14.8;BB:14.9;B:34.9
5.51
43.7
133
262
4.6
4
20
35
35
true
true
true
false
-0.31
-0.22
0.29
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-14
16
ECN2
RFQ
5
100
366
-70
VAR>budget
Reduce
Portfolio VAR above budget
166
Reviewed by risk; hedges staggered
C08241
CR3156
2025-12-21
Recovery
122
528
4.6
1.5
2,157,940,109
Materials:31.8;Healthcare:36.1;Energy:21.7;Financials:10.4
US:65.1;EU:20.3;APAC:6.0;EMEA:6.4;LATAM:2.2
AAA:32.3;AA:33.4;A:13.3;BBB:21.0
3.5
28.3
139
215
4.3
4
25
35
30
true
true
false
false
1.02
0.11
-0.01
Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
14
45
DealerC
RFQ
12
88
69
-194
Region>limit
Rotate
Regional concentration above limit
239
Rotate into defensive sectors
C08242
CR2768
2024-01-27
Tightening
102
506
4.9
1.3
863,494,682
Financials:20.3;Consumer:13.0;Energy:18.3;Industrials:18.5;Materials:18.1;Utilities:11.7
US:67.9;EU:8.9;APAC:7.7;EMEA:11.4;LATAM:4.1
A:14.6;B:19.9;CCC:36.9;AA:15.7;BBB:12.9
1.51
42.4
128
371
14.7
4
35
35
20
false
true
true
false
0.31
0.68
0.52
null
Rotate
From Energy -1.0% to Utilities +1.0%
10
7
ECN1
RFQ
7
100
124
104
Sector>limit
Reduce
Sector concentration above limit
200
Rotate into defensive sectors
C08243
CR7934
2024-05-13
Calm
113
280
4.2
1.6
2,312,720,973
Consumer:16.0;Utilities:32.5;Materials:10.1;Tech:17.2;Healthcare:24.3
US:65.1;EU:10.8;APAC:12.0;EMEA:4.3;LATAM:7.8
AA:45.6;BB:6.7;A:31.6;AAA:16.1
6.49
42
135
275
6.6
2.5
20
45
20
true
true
false
false
1.71
0.3
0.48
null
Hedge
iTraxx_MAIN: +122bps notional
-14
-21
ECN1
DealerAxed
6
97
39
-146
Sector>limit
Rotate
Sector concentration above limit
131
Defer adds pending macro print
C08244
CR8699
2024-06-04
Tightening
129
449
4
1
2,898,575,639
Energy:13.1;Utilities:28.9;Materials:29.9;Industrials:10.6;Comm:6.2;Consumer:11.4
US:67.8;EU:14.7;APAC:8.6;EMEA:6.4;LATAM:2.5
AA:22.8;B:5.5;BB:4.4;AAA:28.5;A:30.0;CCC:8.7
6.29
56.2
250
159
10.2
3
20
45
25
true
true
false
true
0.84
0.5
-0.3
null
Hedge
Treasury_Futures: +195bps notional
-30
18
DealerC
DealerAxed
7
95
-22
-339
VAR>budget
Hedge
Portfolio VAR above budget
240
Reviewed by risk; hedges staggered
C08245
CR2710
2024-08-14
Stress
231
623
7.2
-1.2
1,664,460,387
Comm:15.3;Healthcare:14.5;Financials:23.3;Energy:20.2;Materials:11.7;Consumer:15.1
US:69.2;EU:11.8;APAC:8.6;EMEA:8.7;LATAM:1.8
A:15.9;BB:9.2;B:14.7;CCC:6.1;AA:32.2;BBB:21.8
5.65
38.1
300
542
20.3
2
30
55
25
false
true
true
true
0.57
0.17
0.23
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-34
-12
DealerA
RFQ
6
93
374
-40
VAR>budget
Hedge
Portfolio VAR above budget
192
Reviewed by risk; hedges staggered
C08246
CR6564
2024-02-29
Stress
170
706
7.7
-0.4
1,220,112,907
Tech:6.6;Energy:18.4;Utilities:28.0;Materials:12.5;Comm:26.4;Industrials:8.1
US:64.1;EU:11.3;APAC:10.8;EMEA:7.9;LATAM:5.9
A:22.2;AA:13.3;AAA:22.1;CCC:21.2;BB:21.2
2.1
54.3
309
473
13
3
25
45
20
true
true
true
true
-0.15
0.04
0.38
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-19
0
DealerA
DealerAxed
0
92
-82
99
HYCap>limit
Reduce
High-yield share above policy cap
235
Rotate into defensive sectors
C08247
CR7800
2025-12-22
Calm
72
284
3.9
2.4
223,166,889
Financials:15.4;Industrials:40.5;RealEstate:23.1;Consumer:21.0
US:62.2;EU:12.5;APAC:11.8;EMEA:9.2;LATAM:4.3
B:23.3;BB:5.9;AA:17.2;CCC:18.5;BBB:24.8;A:10.2
0.88
44.8
123
295
3.2
3.5
30
55
30
true
true
true
false
-0.45
0.83
0.05
Tech:EW;Energy:EW;Utilities:EW
Hedge
iTraxx_MAIN: +153bps notional
-6
-15
DealerB
Electronic
2
86
243
-261
HYCap>limit
Rotate
High-yield share above policy cap
113
Rotate into defensive sectors
C08248
CR6215
2025-02-17
Tightening
134
424
4
0.7
1,907,366,872
Financials:20.5;Utilities:26.2;Industrials:15.5;Comm:7.5;Energy:9.9;RealEstate:20.4
US:66.4;EU:14.6;APAC:8.5;EMEA:5.5;LATAM:5.0
B:24.7;BBB:11.4;BB:8.0;CCC:18.3;A:25.6;AAA:11.9
6.85
31.9
93
285
18
2.5
35
35
30
false
true
true
false
1.27
-0.06
-0.05
null
Hedge
iTraxx_XOVER: +105bps notional
9
-14
ECN2
DealerAxed
10
86
-3
-160
HYCap>limit
Hedge
High-yield share above policy cap
179
Reviewed by risk; hedges staggered
C08249
CR5190
2024-12-03
Calm
78
387
3.8
2.6
1,324,732,044
Consumer:28.6;Energy:36.5;Industrials:34.8
US:56.5;EU:16.2;APAC:13.0;EMEA:9.2;LATAM:5.1
A:14.1;B:25.0;AAA:20.3;AA:15.4;BB:25.2
3.16
28.8
278
450
16.9
2
20
35
35
true
true
true
true
1.78
0.31
-0.09
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-38
34
DealerC
Electronic
4
92
-64
-131
VAR>budget
Rotate
Portfolio VAR above budget
186
Defer adds pending macro print
C08250
CR2956
2025-09-29
Stress
223
845
6.2
-1.9
1,176,318,642
Financials:10.7;Energy:34.0;Consumer:20.2;RealEstate:17.3;Utilities:17.9
US:70.1;EU:7.0;APAC:9.3;EMEA:11.5;LATAM:2.1
A:18.5;AA:20.6;AAA:18.9;BB:18.3;BBB:23.7
3.8
28.3
225
680
19
3.5
25
45
35
true
true
false
true
2.07
1.05
0.5
null
Hedge
CDX_IG: +178bps notional
-29
17
ECN2
DealerAxed
3
94
-30
-295
Sector>limit
Reduce
Sector concentration above limit
131
Tighten HY exposure bands
C08251
CR3953
2024-07-30
Stress
183
645
5.4
-0.4
2,312,246,912
Comm:14.0;Tech:31.5;Energy:21.9;Industrials:8.0;Consumer:24.6
US:55.3;EU:18.6;APAC:11.1;EMEA:12.3;LATAM:2.7
CCC:24.3;A:27.8;BBB:26.0;B:9.3;AA:12.6
1.58
30.9
219
300
11
2.5
20
35
35
true
true
false
true
-0.03
1.65
-0.03
Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
11
-11
DealerA
DealerAxed
0
97
270
115
HYCap>limit
PauseAdds
High-yield share above policy cap
213
Escalate watchlist names
C08252
CR4606
2024-09-23
Calm
103
344
4
1.7
2,778,201,990
Consumer:22.4;Industrials:29.7;Comm:26.8;Utilities:21.1
US:68.9;EU:5.6;APAC:10.1;EMEA:10.2;LATAM:5.2
BB:17.4;A:13.3;AAA:12.6;BBB:9.9;CCC:17.4;B:29.5
2.13
54.8
250
277
6.4
2
25
45
30
true
true
true
true
0.83
-0.23
0.13
Consumer:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-20
38
DealerB
RFQ
3
90
249
-207
VAR>budget
Reduce
Portfolio VAR above budget
115
Escalate watchlist names
C08253
CR1464
2025-03-24
Recovery
155
515
4.6
0.6
2,374,451,483
Tech:11.8;Materials:18.9;Utilities:12.9;Energy:24.4;Healthcare:19.2;RealEstate:12.9
US:60.4;EU:12.4;APAC:12.5;EMEA:8.0;LATAM:6.7
CCC:13.3;BBB:23.4;A:22.2;BB:13.2;B:27.9
7.48
64.5
103
260
10.2
3.5
20
35
20
true
true
true
false
1.04
1.31
0.3
Tech:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
11
15
DealerA
All2All
0
93
-44
-150
Sector>limit
Hedge
Sector concentration above limit
217
Reviewed by risk; hedges staggered
C08254
CR3377
2024-07-12
Calm
107
349
3.7
2.9
1,690,208,258
RealEstate:35.2;Tech:32.5;Healthcare:32.3
US:67.3;EU:9.8;APAC:7.3;EMEA:13.6;LATAM:2.0
AA:16.4;AAA:17.5;BBB:26.1;A:24.1;B:15.9
6.32
44.8
158
450
9.8
3
30
55
30
true
true
false
false
0.96
1.33
0.06
null
Hedge
CDX_HY: +184bps notional
-42
11
ECN1
DealerAxed
12
91
38
186
Sector>limit
Hedge
Sector concentration above limit
160
Defer adds pending macro print
C08255
CR1692
2025-01-02
Tightening
118
374
4.4
0.5
430,887,576
Consumer:21.4;Tech:7.2;Financials:22.0;Utilities:16.4;Industrials:21.2;Materials:11.8
US:60.6;EU:11.9;APAC:10.8;EMEA:12.0;LATAM:4.7
AAA:12.9;CCC:23.7;A:6.8;BB:20.1;B:23.7;AA:12.7
4.05
21.4
124
128
14.1
3
20
35
25
true
true
true
false
2.29
0.29
-0.24
Utilities:EW
Hedge
Options_Payer: +87bps notional
4
6
DealerC
DealerAxed
7
85
102
-83
HYCap>limit
Hedge
High-yield share above policy cap
231
Rotate into defensive sectors
C08256
CR4057
2024-02-06
Stress
182
796
6.8
0.2
1,836,148,406
Materials:16.0;Consumer:14.0;Comm:23.3;Industrials:23.9;RealEstate:22.8
US:67.8;EU:14.8;APAC:11.1;EMEA:3.9;LATAM:2.3
AA:16.3;CCC:14.0;BB:18.2;B:25.0;AAA:8.4;A:18.1
7.43
54.8
253
425
16
2.5
30
35
35
false
true
true
true
1.64
0.53
0.59
Tech:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-36
39
ECN1
Electronic
11
94
5
-208
Sector>limit
Hedge
Sector concentration above limit
227
Tighten HY exposure bands
C08257
CR3955
2024-01-20
Calm
72
306
3.6
2.1
2,404,041,465
Materials:23.7;Energy:15.5;Tech:21.4;Healthcare:5.5;Industrials:25.9;Comm:8.1
US:69.3;EU:14.1;APAC:8.8;EMEA:6.2;LATAM:1.5
CCC:16.6;B:28.7;BB:18.3;A:15.7;AA:6.7;AAA:14.0
5.54
57.5
181
282
9.6
3
35
45
25
false
true
true
false
0.06
0.63
0.32
Energy:EW
Hedge
Treasury_Futures: +125bps notional
15
21
DealerA
All2All
1
94
239
-67
VAR>budget
Reduce
Portfolio VAR above budget
116
Reviewed by risk; hedges staggered
C08258
CR0947
2024-07-10
Tightening
147
424
4.9
1
2,434,708,148
Materials:9.8;Energy:8.5;Financials:22.4;Industrials:21.3;Utilities:15.2;Comm:22.9
US:72.0;EU:13.8;APAC:7.8;EMEA:5.8;LATAM:0.6
AAA:22.6;BB:4.1;AA:44.3;BBB:29.0
3.58
40.1
221
508
6.6
2
30
45
35
false
true
false
true
1.86
0.38
-0.39
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
5
27
ECN2
DealerAxed
4
92
-97
-169
Region>limit
Hedge
Regional concentration above limit
224
Reviewed by risk; hedges staggered
C08259
CR8461
2025-12-08
Recovery
171
619
6.2
1.8
2,445,888,694
Healthcare:49.2;Tech:15.1;RealEstate:35.8
US:51.2;EU:15.9;APAC:14.2;EMEA:11.7;LATAM:6.9
CCC:14.0;BBB:24.2;AA:21.8;A:21.3;BB:18.6
2.18
25.1
261
274
14.6
4
35
45
25
true
true
true
true
2.44
0.99
0.21
null
Hedge
Treasury_Futures: +167bps notional
-22
39
ECN2
All2All
6
100
-190
59
HYCap>limit
Hedge
High-yield share above policy cap
145
Rotate into defensive sectors
C08260
CR9435
2025-06-10
Calm
83
388
3.7
2.6
1,896,948,084
Utilities:23.9;Industrials:8.0;Healthcare:24.4;Comm:20.5;Tech:13.2;Consumer:10.0
US:61.8;EU:5.7;APAC:15.0;EMEA:10.0;LATAM:7.6
BBB:11.6;AA:22.0;B:18.4;BB:48.0
1.98
60.5
154
360
14.9
2
20
55
35
true
true
true
false
-0
-0.06
0.06
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
18
27
DealerC
Electronic
2
90
-29
86
HYCap>limit
Reduce
High-yield share above policy cap
125
Reviewed by risk; hedges staggered
C08261
CR4221
2024-07-31
Tightening
106
418
4.9
0.8
1,272,416,847
Financials:7.8;Consumer:6.9;Materials:23.7;Comm:31.8;Healthcare:29.8
US:65.3;EU:12.9;APAC:10.5;EMEA:4.4;LATAM:7.0
CCC:23.9;BBB:10.7;B:15.1;BB:20.5;A:16.0;AAA:13.7
6.62
53.1
244
165
17.5
4
30
35
20
true
true
true
true
1.11
1.68
0.38
Consumer:EW;RealEstate:EW
Hedge
iTraxx_MAIN: +87bps notional
3
-6
DealerC
RFQ
1
94
-79
-347
HYCap>limit
Rotate
High-yield share above policy cap
170
Rotate into defensive sectors
C08262
CR1902
2025-02-15
Calm
86
360
3.5
2.9
410,452,663
Healthcare:12.3;Financials:21.5;Industrials:16.7;Consumer:24.6;Energy:6.9;Comm:18.1
US:67.4;EU:10.9;APAC:13.7;EMEA:6.5;LATAM:1.6
BBB:50.2;CCC:3.9;B:17.9;AA:28.0
2.47
52.9
213
440
12.8
2.5
20
55
35
true
true
false
true
0.62
1.73
0.54
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
11
37
DealerA
All2All
9
90
16
80
Sector>limit
Reduce
Sector concentration above limit
147
Escalate watchlist names
C08263
CR8795
2025-09-16
Calm
94
286
3.5
1.8
1,279,559,961
Energy:38.1;Consumer:21.2;Financials:18.8;Healthcare:22.0
US:75.6;EU:5.4;APAC:11.6;EMEA:7.3;LATAM:0.1
BBB:29.1;BB:21.6;B:25.5;AA:23.8
6.29
53.3
263
263
14.8
4
25
55
30
true
true
true
true
1.94
0.66
0.13
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
17
-3
DealerA
All2All
1
93
-22
-240
HYCap>limit
Reduce
High-yield share above policy cap
172
Escalate watchlist names
C08264
CR0288
2024-01-06
Recovery
114
531
4.6
0.9
689,581,833
Materials:28.7;Financials:55.8;Utilities:15.5
US:64.1;EU:19.6;APAC:9.5;EMEA:5.9;LATAM:1.0
BBB:18.1;AAA:24.9;B:18.0;AA:23.8;CCC:15.3
3.02
31.2
279
419
7.1
4
20
45
30
true
true
true
true
2.13
0.52
-0.24
Industrials:EW;Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-54
-21
DealerB
All2All
9
92
278
-197
Sector>limit
Hedge
Sector concentration above limit
132
Reviewed by risk; hedges staggered
C08265
CR8332
2025-10-11
Recovery
125
469
5
1.8
566,250,653
Utilities:13.4;Comm:35.0;Consumer:30.4;RealEstate:21.2
US:70.6;EU:11.6;APAC:6.6;EMEA:10.2;LATAM:1.0
BBB:17.0;CCC:6.9;AA:31.1;AAA:20.9;A:24.1
1.49
53.6
85
357
4
2.5
20
55
30
true
true
false
false
1.49
0.22
0.11
Consumer:EW;Energy:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
10
-17
DealerA
Electronic
8
86
220
-290
HYCap>limit
Hedge
High-yield share above policy cap
255
Defer adds pending macro print
C08266
CR4653
2025-02-02
Tightening
128
410
4
0.7
656,046,961
Materials:24.6;Healthcare:20.9;Industrials:18.2;Consumer:11.9;Financials:24.4
US:70.2;EU:12.8;APAC:5.9;EMEA:6.6;LATAM:4.5
AA:29.4;BB:41.0;B:15.4;BBB:14.2
3.75
58.8
94
512
12.7
4
25
35
20
false
true
true
false
0.31
0.94
0.11
Consumer:EW
Hedge
CDX_HY: +164bps notional
-38
30
DealerA
DealerAxed
8
87
28
-144
HYCap>limit
Reduce
High-yield share above policy cap
240
Defer adds pending macro print
C08267
CR9112
2024-12-22
Calm
90
360
3.2
1.8
2,324,077,828
Utilities:26.4;Industrials:43.8;RealEstate:29.9
US:68.0;EU:14.4;APAC:12.3;EMEA:4.3;LATAM:1.0
BBB:28.9;CCC:13.2;AA:13.1;AAA:14.5;A:30.4
3.66
51.9
190
509
9.6
3.5
35
55
30
true
true
false
false
1.12
-0.14
-0.09
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
10
6
DealerA
All2All
10
93
122
-109
Sector>limit
Rotate
Sector concentration above limit
105
Reviewed by risk; hedges staggered
C08268
CR1355
2024-04-24
Tightening
144
445
4.3
1.4
409,595,192
Financials:15.3;Healthcare:8.7;Industrials:26.2;RealEstate:24.7;Energy:25.1
US:64.1;EU:16.6;APAC:6.3;EMEA:6.5;LATAM:6.4
BB:9.6;BBB:14.7;B:13.7;AAA:19.4;AA:22.2;A:20.3
7.42
59.1
152
257
17
3.5
35
35
20
false
true
true
false
2.2
1.02
-0.09
Tech:EW;Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-25
-8
DealerC
DealerAxed
10
90
-83
-265
Region>limit
PauseAdds
Regional concentration above limit
172
Reviewed by risk; hedges staggered
C08269
CR4667
2024-10-15
Calm
99
348
3.8
2.3
1,474,070,516
RealEstate:52.4;Materials:20.4;Consumer:27.2
US:72.9;EU:6.8;APAC:6.1;EMEA:8.4;LATAM:5.7
AAA:15.9;BBB:21.1;A:19.1;BB:25.0;CCC:18.9
1.77
60.1
184
409
9.4
3.5
35
55
20
true
true
true
false
1.81
0.99
-0.05
Consumer:EW
Hedge
iTraxx_MAIN: +129bps notional
-15
24
DealerA
All2All
9
98
273
-329
Sector>limit
Rotate
Sector concentration above limit
239
Tighten HY exposure bands
C08270
CR4111
2025-08-18
Tightening
121
518
4.4
0.8
1,165,228,012
Financials:30.1;Materials:53.9;Comm:16.0
US:72.5;EU:16.6;APAC:5.8;EMEA:4.0;LATAM:1.1
AA:29.5;CCC:10.6;BBB:15.5;A:21.0;B:23.4
3.98
55.9
119
142
15.5
3.5
25
35
35
true
true
false
false
1.18
1.2
-0.15
Comm:EW;Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-56
29
ECN2
All2All
11
95
22
-335
VAR>budget
Reduce
Portfolio VAR above budget
180
Reviewed by risk; hedges staggered
C08271
CR0790
2025-05-10
Tightening
150
488
4.4
1.2
1,557,400,954
Tech:50.4;Energy:13.2;Financials:21.1;Comm:15.2
US:63.3;EU:18.3;APAC:10.3;EMEA:5.8;LATAM:2.3
B:23.4;A:17.9;AAA:23.2;BB:8.1;AA:16.5;BBB:10.9
6.83
25.5
143
466
3.9
3
35
55
20
true
true
true
false
2.21
1.36
-0.12
Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-49
-13
DealerB
DealerAxed
9
97
374
37
Sector>limit
Reduce
Sector concentration above limit
148
Defer adds pending macro print
C08272
CR0438
2024-06-10
Calm
91
357
3.5
2.2
2,072,434,111
Utilities:30.1;Healthcare:27.2;Tech:11.7;Financials:13.1;Industrials:17.9
US:65.2;EU:19.8;APAC:6.9;EMEA:6.9;LATAM:1.1
A:17.0;AA:15.9;B:12.8;BB:36.1;CCC:18.2
0.76
48.3
230
283
13.6
3.5
25
45
25
true
true
true
true
2.13
0.79
0.4
Industrials:EW;RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-26
31
DealerC
RFQ
11
94
247
-410
Sector>limit
Rotate
Sector concentration above limit
232
Reviewed by risk; hedges staggered
C08273
CR3017
2025-02-09
Tightening
115
467
4.2
0.7
2,887,184,195
Tech:35.7;Utilities:30.4;Comm:33.9
US:63.2;EU:16.9;APAC:7.5;EMEA:9.9;LATAM:2.5
A:35.6;AAA:10.8;BBB:33.6;B:20.0
1.77
49.1
199
348
5.8
2
20
55
25
true
true
false
false
0.95
0.36
-0.17
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-40
9
DealerC
All2All
2
95
255
-130
VAR>budget
Hedge
Portfolio VAR above budget
150
Reviewed by risk; hedges staggered
C08274
CR8080
2025-09-05
Calm
88
336
3.7
1.6
2,485,821,151
Comm:18.0;Utilities:15.2;Materials:13.3;Industrials:9.0;Energy:21.8;Healthcare:22.7
US:67.2;EU:10.2;APAC:10.9;EMEA:4.9;LATAM:6.8
A:27.5;BBB:28.7;AA:23.7;AAA:10.3;CCC:9.7
3.68
42.5
250
490
11.8
2.5
35
35
35
false
true
false
true
2.23
0.39
0.42
Consumer:EW
Rotate
From Energy -1.0% to Utilities +1.0%
10
24
ECN2
All2All
8
93
283
-447
HYCap>limit
Reduce
High-yield share above policy cap
185
Escalate watchlist names
C08275
CR7690
2025-07-15
Recovery
106
539
5.1
1.2
1,023,763,913
Consumer:19.2;Utilities:33.2;Tech:15.4;RealEstate:32.3
US:63.0;EU:16.5;APAC:12.8;EMEA:4.0;LATAM:3.7
AA:16.6;BB:7.1;BBB:38.4;B:8.7;AAA:29.2
2.54
62
258
478
10.6
2
30
35
35
true
true
false
true
2.14
1.7
0.48
null
Rotate
From Energy -1.0% to Utilities +1.0%
-28
13
DealerC
Electronic
6
87
60
57
HYCap>limit
Reduce
High-yield share above policy cap
97
Defer adds pending macro print
C08276
CR9411
2025-04-08
Stress
173
791
6.9
0.2
340,884,006
Financials:10.5;RealEstate:25.3;Industrials:24.0;Comm:25.3;Healthcare:14.9
US:63.6;EU:12.9;APAC:9.5;EMEA:11.2;LATAM:2.9
BBB:44.8;A:15.3;CCC:20.6;AA:19.3
2.02
27.5
291
539
14.8
3.5
35
45
35
false
true
false
true
1.02
1.13
-0.12
Consumer:EW
Hedge
iTraxx_MAIN: +129bps notional
-19
-16
ECN1
DealerAxed
5
91
-178
-101
HYCap>limit
Reduce
High-yield share above policy cap
215
Reviewed by risk; hedges staggered
C08277
CR4135
2025-08-30
Recovery
151
525
4.9
-0.1
1,172,247,430
Consumer:9.3;Financials:18.6;Healthcare:41.0;Energy:31.0
US:59.1;EU:18.6;APAC:10.4;EMEA:6.9;LATAM:5.0
BB:23.0;BBB:32.6;CCC:16.5;AA:27.9
6.57
47.2
152
388
4.1
3
35
45
35
true
true
true
false
2.29
0.18
0.18
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
2
4
ECN1
All2All
12
92
259
-204
Sector>limit
Rotate
Sector concentration above limit
179
Reviewed by risk; hedges staggered
C08278
CR0622
2025-11-08
Recovery
157
522
4.8
0.5
1,043,303,210
Utilities:17.8;RealEstate:22.3;Tech:31.1;Comm:28.8
US:58.1;EU:16.3;APAC:14.1;EMEA:9.7;LATAM:1.8
B:18.3;A:37.2;AA:25.5;BB:18.9
5.35
30
275
156
11.1
3
25
45
30
true
true
true
true
2.14
-0.07
0.03
Financials:EW
Hedge
Treasury_Futures: +69bps notional
-12
24
DealerB
Electronic
3
92
-29
-139
HYCap>limit
Hedge
High-yield share above policy cap
193
Defer adds pending macro print
C08279
CR1347
2025-03-22
Tightening
94
468
4.8
0.6
2,361,174,159
Financials:6.3;RealEstate:16.6;Utilities:23.5;Industrials:21.9;Comm:8.5;Energy:23.2
US:60.7;EU:11.6;APAC:8.6;EMEA:12.6;LATAM:6.6
CCC:21.2;BBB:10.0;BB:24.3;B:19.6;AA:13.8;A:11.0
4.77
59.8
199
495
15.7
3.5
20
35
20
true
true
true
false
1.11
0.17
0.45
Energy:EW
Hedge
Treasury_Futures: +193bps notional
1
32
DealerA
Electronic
11
91
194
-294
Region>limit
Rotate
Regional concentration above limit
228
Defer adds pending macro print
C08280
CR7959
2024-07-05
Calm
98
374
4
2.3
1,629,220,742
Energy:20.8;Healthcare:46.9;Industrials:32.2
US:68.4;EU:12.4;APAC:9.4;EMEA:7.9;LATAM:1.9
AA:43.5;BBB:27.5;AAA:13.3;B:15.7
2.93
22.5
251
471
9.7
2.5
30
55
25
true
true
false
true
2.42
0.84
-0.02
Healthcare:EW;Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-48
15
DealerA
All2All
6
91
40
-234
HYCap>limit
Rotate
High-yield share above policy cap
100
Reviewed by risk; hedges staggered
C08281
CR3558
2025-02-06
Stress
187
599
5
0.7
1,291,111,983
Tech:11.0;Materials:16.2;Healthcare:24.1;RealEstate:24.1;Energy:24.6
US:70.0;EU:11.6;APAC:9.6;EMEA:4.8;LATAM:4.1
CCC:14.5;AAA:28.2;A:30.0;B:27.3
4.36
54.8
176
384
9
3.5
20
45
30
true
true
true
false
-0.23
1.64
0.4
Comm:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-28
40
ECN1
RFQ
7
87
410
-242
HYCap>limit
Reduce
High-yield share above policy cap
221
Tighten HY exposure bands
C08282
CR5863
2024-05-07
Stress
203
550
7.3
0
1,746,368,481
Healthcare:10.9;Energy:18.4;Financials:22.8;Utilities:23.0;Industrials:24.9
US:66.8;EU:15.3;APAC:12.6;EMEA:3.9;LATAM:1.4
BBB:27.7;CCC:9.1;B:8.4;AAA:14.6;AA:40.2
7.18
31.6
334
432
19
4
20
55
30
true
true
false
true
0.17
0.24
0.34
Industrials:EW;Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-47
-8
DealerC
DealerAxed
1
95
-53
-383
HYCap>limit
Hedge
High-yield share above policy cap
234
Tighten HY exposure bands
C08283
CR0162
2024-02-20
Calm
98
420
3.5
2.5
2,845,852,829
Financials:14.2;Industrials:33.7;Utilities:16.4;Consumer:35.7
US:65.3;EU:12.8;APAC:7.0;EMEA:7.9;LATAM:7.0
AA:23.6;BB:11.8;CCC:9.6;B:15.9;A:23.6;BBB:15.6
4.94
49.3
161
393
18
3.5
30
35
30
true
true
true
false
0.89
1.44
0.21
RealEstate:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-46
22
ECN2
Electronic
3
100
380
-268
HYCap>limit
Hedge
High-yield share above policy cap
141
Escalate watchlist names
C08284
CR8352
2024-12-03
Calm
77
384
3.3
2.9
2,854,030,606
Healthcare:26.6;Financials:39.1;Energy:34.3
US:73.9;EU:10.0;APAC:7.9;EMEA:6.7;LATAM:1.5
A:18.6;BBB:20.7;AAA:18.5;AA:8.2;CCC:10.1;B:24.0
4.35
23.9
134
213
7
3.5
35
45
25
true
true
true
false
2.16
1.27
-0.24
null
Rotate
From Energy -1.0% to Utilities +1.0%
8
45
ECN1
Electronic
0
92
300
-421
HYCap>limit
Rotate
High-yield share above policy cap
239
Rotate into defensive sectors
C08285
CR1051
2024-09-04
Stress
209
811
6.2
-1.1
1,054,601,294
Industrials:20.6;Healthcare:12.5;Financials:17.1;RealEstate:26.5;Utilities:13.8;Comm:9.5
US:57.5;EU:9.7;APAC:12.2;EMEA:12.1;LATAM:8.5
BB:8.2;AA:45.8;B:21.4;AAA:24.6
4.24
40
239
385
8.3
4
30
45
30
false
true
false
true
0.23
0.23
0.49
null
Hedge
SingleName_CDS: +152bps notional
-53
31
ECN2
DealerAxed
7
95
340
-266
HYCap>limit
Hedge
High-yield share above policy cap
161
Tighten HY exposure bands
C08286
CR2520
2025-02-16
Stress
240
610
6.5
0.2
2,166,371,905
Healthcare:19.6;Financials:26.9;Industrials:21.2;Comm:32.3
US:66.3;EU:10.1;APAC:12.2;EMEA:7.9;LATAM:3.5
AAA:26.7;BBB:15.7;AA:25.8;BB:24.4;B:7.4
2.02
55.4
270
553
21.2
2.5
25
35
35
true
true
false
true
-0.2
1.75
-0.15
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
10
2
DealerA
RFQ
10
98
-87
5
HYCap>limit
Hedge
High-yield share above policy cap
147
Escalate watchlist names
C08287
CR0823
2025-03-24
Recovery
109
507
5.8
0.1
178,116,810
Consumer:34.2;Materials:28.5;RealEstate:37.3
US:70.5;EU:11.0;APAC:9.6;EMEA:7.4;LATAM:1.4
B:15.4;BBB:6.8;AAA:18.7;A:17.1;BB:16.2;AA:25.9
7.02
26
267
166
7.3
3.5
30
35
25
true
true
true
true
1.01
0.49
-0.29
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-11
33
ECN1
All2All
10
100
-3
-228
Region>limit
Hedge
Regional concentration above limit
169
Defer adds pending macro print
C08288
CR8488
2024-03-05
Calm
76
370
3.5
2.1
2,843,864,226
Tech:16.1;Financials:41.0;Industrials:18.3;Consumer:24.7
US:74.6;EU:7.3;APAC:8.6;EMEA:4.7;LATAM:4.8
CCC:10.9;AAA:14.9;A:18.1;BB:17.9;AA:12.8;B:25.4
2.31
24.4
129
307
6.1
2.5
35
55
30
true
true
true
false
0.46
1.31
-0.19
RealEstate:EW;Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-18
20
ECN1
Electronic
2
95
211
-218
HYCap>limit
Rotate
High-yield share above policy cap
254
Escalate watchlist names
C08289
CR6266
2025-04-27
Calm
82
284
4.2
2.7
1,762,002,754
Consumer:26.9;Energy:8.2;Healthcare:27.0;Financials:26.9;Industrials:11.0
US:68.0;EU:11.7;APAC:10.9;EMEA:7.6;LATAM:1.8
AA:33.6;BB:4.0;A:35.6;CCC:8.9;B:18.0
5.2
23.5
127
364
2.4
3
20
55
30
true
true
true
false
-0.45
0.72
0.52
Tech:EW
Hedge
CDX_HY: +183bps notional
-26
-16
ECN1
Electronic
0
88
-6
-219
Region>limit
Hedge
Regional concentration above limit
120
Rotate into defensive sectors
C08290
CR9148
2025-04-09
Recovery
110
428
5.9
2
833,633,530
Utilities:39.5;Industrials:15.2;RealEstate:28.5;Financials:16.8
US:64.0;EU:13.1;APAC:7.6;EMEA:10.8;LATAM:4.6
BBB:15.0;B:44.9;AAA:13.0;A:27.0
7.34
44
270
144
4.7
3.5
25
35
35
true
true
true
true
1.46
0.43
-0.24
Industrials:EW;Tech:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-21
34
DealerA
All2All
8
89
307
6
VAR>budget
Reduce
Portfolio VAR above budget
213
Rotate into defensive sectors
C08291
CR7287
2025-12-16
Calm
77
309
4.1
1.8
502,656,596
Industrials:15.8;RealEstate:13.1;Financials:15.2;Tech:19.7;Comm:21.7;Healthcare:14.5
US:73.8;EU:10.1;APAC:8.2;EMEA:4.3;LATAM:3.5
A:27.3;CCC:10.3;AAA:18.2;BBB:36.5;B:7.6
6.57
62.2
85
492
7.8
2.5
25
35
30
false
true
false
false
0.13
1.62
0.43
Financials:EW;Energy:EW
Hedge
CDX_HY: +77bps notional
3
19
ECN2
All2All
3
93
-97
-385
VAR>budget
Hedge
Portfolio VAR above budget
90
Rotate into defensive sectors
C08292
CR9728
2025-11-17
Stress
252
827
6.2
-0
2,314,458,462
Energy:18.5;Materials:20.3;Healthcare:14.1;Utilities:28.7;Financials:18.4
US:68.3;EU:9.3;APAC:9.0;EMEA:9.9;LATAM:3.5
AA:28.5;A:28.5;AAA:15.4;BB:27.6
2.43
22.3
182
478
20.3
3.5
25
35
25
true
true
true
false
1.18
0.17
-0.29
Utilities:EW;Healthcare:EW
Hedge
CDX_IG: +177bps notional
-25
21
ECN1
All2All
1
99
187
-177
Sector>limit
Reduce
Sector concentration above limit
222
Rotate into defensive sectors
C08293
CR3923
2025-05-15
Calm
66
287
3.3
1.9
55,706,209
Tech:27.0;Financials:17.5;Utilities:19.3;Consumer:27.0;Comm:9.1
US:60.5;EU:20.5;APAC:10.7;EMEA:7.2;LATAM:1.0
A:15.2;BB:17.0;AA:16.8;AAA:17.7;B:25.2;BBB:8.0
3.55
44
223
436
14.3
2
30
35
25
false
true
true
true
1.6
1.75
-0.27
Tech:EW
Hedge
iTraxx_MAIN: +94bps notional
-13
-1
DealerC
Electronic
1
90
45
-108
Region>limit
Reduce
Regional concentration above limit
133
Escalate watchlist names
C08294
CR9159
2025-03-03
Calm
119
329
3.5
2.4
2,410,768,771
Energy:46.1;Utilities:13.8;Financials:40.1
US:64.7;EU:16.7;APAC:4.7;EMEA:8.7;LATAM:5.3
AA:12.6;BBB:34.3;AAA:31.8;BB:21.3
4.66
64.4
150
458
9.4
3
35
35
30
true
true
false
false
-0.09
-0.28
0.43
RealEstate:EW
Hedge
Options_Payer: +76bps notional
-22
-11
DealerB
Electronic
12
93
244
-185
HYCap>limit
Rotate
High-yield share above policy cap
194
Defer adds pending macro print
C08295
CR9740
2024-04-25
Tightening
119
503
4.7
0.9
2,526,486,296
Energy:22.4;Financials:13.4;Industrials:9.9;Comm:20.4;RealEstate:21.4;Utilities:12.5
US:59.3;EU:18.7;APAC:10.6;EMEA:8.3;LATAM:3.1
A:28.5;CCC:13.0;B:18.8;BB:8.5;AAA:31.2
6.45
54.9
250
465
2.3
2
20
35
30
true
true
true
true
1.58
0.77
0.4
Financials:EW;Healthcare:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-39
15
DealerC
All2All
12
90
125
-92
Region>limit
Hedge
Regional concentration above limit
182
Tighten HY exposure bands
C08296
CR7224
2025-06-24
Tightening
119
466
4
1.1
2,238,516,589
Financials:35.6;Industrials:29.3;Consumer:35.1
US:65.9;EU:13.5;APAC:8.4;EMEA:7.2;LATAM:5.0
CCC:22.7;B:22.7;BB:27.0;BBB:27.6
4.41
50.5
82
360
5.9
4
30
45
20
true
true
true
false
0.24
0.2
0.11
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-1
18
DealerB
DealerAxed
1
85
-114
-434
Sector>limit
Reduce
Sector concentration above limit
250
Escalate watchlist names
C08297
CR8935
2024-01-21
Recovery
154
429
5.3
0.3
2,231,782,219
Industrials:15.2;Consumer:24.2;RealEstate:33.3;Energy:27.3
US:69.0;EU:16.1;APAC:8.9;EMEA:3.7;LATAM:2.3
BB:21.0;BBB:22.2;CCC:33.4;A:23.4
1.35
30.5
114
257
16.9
4
20
45
35
true
true
true
false
1.61
0.59
0.15
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
10
41
DealerA
RFQ
12
87
187
97
HYCap>limit
Hedge
High-yield share above policy cap
200
Escalate watchlist names
C08298
CR4041
2025-10-07
Calm
117
280
3.3
2.5
605,469,517
RealEstate:22.5;Comm:16.2;Financials:24.3;Consumer:24.9;Tech:12.1
US:68.6;EU:7.2;APAC:9.9;EMEA:8.2;LATAM:6.0
BBB:16.7;CCC:5.9;AA:21.1;AAA:14.9;B:17.6;BB:23.9
6.8
55
277
252
7.8
3.5
20
55
35
true
true
true
true
2.18
-0.11
0.12
Tech:EW
Hedge
SingleName_CDS: +133bps notional
-39
-3
DealerC
Electronic
2
92
-205
-3
Sector>limit
Reduce
Sector concentration above limit
253
Defer adds pending macro print
C08299
CR7453
2024-09-15
Stress
163
771
7.5
-0.7
2,086,816,438
Consumer:13.1;Industrials:11.6;Utilities:45.7;Comm:29.6
US:63.2;EU:17.7;APAC:12.0;EMEA:6.3;LATAM:0.9
A:9.9;CCC:20.7;BBB:16.1;AAA:20.5;BB:14.3;B:18.5
4.97
50
153
637
13.7
3.5
30
55
30
true
true
true
false
1.59
-0.15
0.57
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
0
-15
ECN2
Electronic
2
90
283
63
Region>limit
Hedge
Regional concentration above limit
108
Defer adds pending macro print
C08300
CR9798
2024-03-18
Calm
90
407
4.2
2.3
2,113,630,915
Consumer:17.8;Industrials:16.1;RealEstate:10.4;Energy:27.2;Healthcare:28.5
US:67.7;EU:5.8;APAC:8.1;EMEA:11.8;LATAM:6.6
CCC:18.4;B:17.4;BB:27.0;AA:37.2
6.94
24.4
224
414
16.2
3.5
20
45
35
true
true
true
true
-0.26
1.49
-0.01
RealEstate:EW
Hedge
Treasury_Futures: +142bps notional
-57
-12
ECN2
All2All
9
89
-203
-64
VAR>budget
Reduce
Portfolio VAR above budget
197
Rotate into defensive sectors