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
C08401
CR8868
2025-06-29
Stress
247
822
5.2
-1.5
2,998,404,570
Energy:20.5;Financials:32.5;Tech:21.6;Industrials:25.4
US:67.4;EU:5.7;APAC:11.4;EMEA:10.3;LATAM:5.2
B:9.6;BB:19.6;AAA:18.8;A:20.4;BBB:31.6
2.86
50.6
393
389
8.3
4
30
35
30
true
true
false
true
1.64
-0.13
-0.09
Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-9
31
ECN2
Electronic
12
85
295
-174
VAR>budget
Reduce
Portfolio VAR above budget
104
Rotate into defensive sectors
C08402
CR1227
2024-06-26
Tightening
123
457
4.1
0.8
2,177,063,973
Financials:32.3;Consumer:32.8;Tech:14.6;Healthcare:20.4
US:63.3;EU:12.8;APAC:9.8;EMEA:5.9;LATAM:8.2
BBB:20.1;A:25.0;AA:21.6;AAA:33.3
4.23
33.6
82
138
17.3
3.5
30
55
25
true
true
false
false
0.5
1.42
-0.21
null
Hedge
SingleName_CDS: +199bps notional
-11
19
DealerC
DealerAxed
10
94
160
-16
Sector>limit
Reduce
Sector concentration above limit
164
Reviewed by risk; hedges staggered
C08403
CR2539
2024-03-27
Calm
89
364
3.8
2.3
1,877,364,492
Comm:29.8;Tech:11.3;Utilities:22.1;Energy:16.6;Financials:20.2
US:59.3;EU:13.0;APAC:13.3;EMEA:7.9;LATAM:6.5
BBB:20.6;AA:21.9;B:15.5;CCC:26.6;BB:9.6;AAA:5.8
6.24
36.5
131
423
8.3
2
25
45
35
true
true
true
false
1.26
1.71
-0.19
RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-33
28
ECN1
Electronic
4
98
-176
-22
HYCap>limit
Reduce
High-yield share above policy cap
219
Defer adds pending macro print
C08404
CR8398
2025-07-20
Stress
151
798
5
-1.9
74,560,520
Financials:14.0;Materials:7.6;RealEstate:17.4;Comm:34.4;Consumer:26.7
US:67.6;EU:11.3;APAC:15.9;EMEA:3.7;LATAM:1.5
AA:27.9;BBB:28.3;AAA:20.3;B:23.5
5.46
57.3
316
614
21
2
30
35
20
true
true
true
true
1.26
-0.29
0.24
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-3
-15
ECN2
All2All
7
94
72
-47
Region>limit
Reduce
Regional concentration above limit
145
Defer adds pending macro print
C08405
CR2927
2024-03-22
Tightening
146
375
3.8
1.5
1,768,915,813
Industrials:30.0;Energy:32.5;Materials:37.5
US:67.2;EU:8.4;APAC:14.3;EMEA:8.4;LATAM:1.7
B:7.5;BB:4.5;AA:23.3;BBB:18.4;CCC:9.7;AAA:36.7
1.61
21.3
127
241
10.4
3
25
35
35
true
true
false
false
1.78
0.36
-0.06
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
16
30
ECN2
DealerAxed
5
94
247
-256
Sector>limit
PauseAdds
Sector concentration above limit
166
Escalate watchlist names
C08406
CR7579
2024-06-18
Tightening
141
432
4.9
0.7
1,039,638,581
Healthcare:22.2;Energy:6.9;Comm:18.2;Consumer:25.2;RealEstate:16.4;Industrials:11.0
US:72.5;EU:5.3;APAC:13.5;EMEA:6.8;LATAM:1.9
AA:15.3;CCC:13.6;BBB:15.2;A:11.7;B:30.3;AAA:13.9
7.2
48.4
263
197
15.5
3.5
20
35
25
true
true
true
true
1.27
0.09
0.55
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-59
4
DealerB
All2All
3
88
340
131
Region>limit
Reduce
Regional concentration above limit
192
Reviewed by risk; hedges staggered
C08407
CR4125
2024-11-09
Tightening
101
385
4.9
0.9
1,122,269,972
Industrials:11.5;Utilities:28.8;Comm:34.1;RealEstate:9.5;Energy:16.1
US:64.4;EU:19.7;APAC:10.4;EMEA:4.8;LATAM:0.7
BBB:27.6;BB:12.1;AAA:31.9;A:28.5
1.81
46.8
168
518
2.8
2.5
20
45
20
true
true
false
false
0.21
0.79
0
null
Hedge
iTraxx_MAIN: +161bps notional
-29
43
DealerA
RFQ
12
90
-118
-424
HYCap>limit
Rotate
High-yield share above policy cap
92
Defer adds pending macro print
C08408
CR9670
2025-07-04
Recovery
116
508
5.5
0.9
1,744,320,392
Healthcare:27.6;Materials:7.9;Utilities:14.3;Financials:19.0;Tech:13.1;RealEstate:18.1
US:60.8;EU:17.2;APAC:7.5;EMEA:8.4;LATAM:6.1
CCC:12.8;BBB:25.9;AA:32.1;BB:29.2
4.8
31.6
248
323
8.5
2
35
45
35
false
true
true
true
0.08
0.01
0.19
Healthcare:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-38
7
ECN2
All2All
7
85
115
145
HYCap>limit
PauseAdds
High-yield share above policy cap
215
Reviewed by risk; hedges staggered
C08409
CR9725
2024-09-15
Calm
82
298
3.8
2.9
514,564,867
Healthcare:13.9;Comm:22.7;Utilities:12.1;Consumer:16.5;Materials:28.3;RealEstate:6.5
US:76.4;EU:7.1;APAC:8.3;EMEA:5.3;LATAM:2.8
BB:11.5;AAA:19.1;A:13.4;AA:35.1;BBB:12.7;B:8.2
2.98
41.3
202
452
4.6
3
25
55
25
true
true
false
true
2.28
1.4
-0.36
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-22
-22
ECN1
RFQ
9
92
-172
-112
Sector>limit
Hedge
Sector concentration above limit
235
Rotate into defensive sectors
C08410
CR3794
2024-11-06
Calm
109
366
3.4
3
2,860,202,950
Financials:19.2;Industrials:16.7;Utilities:20.3;RealEstate:4.9;Energy:20.6;Comm:18.4
US:64.6;EU:17.8;APAC:9.0;EMEA:3.8;LATAM:4.8
AA:7.6;BBB:14.1;B:31.7;AAA:8.7;A:20.8;CCC:17.1
4.24
54.3
174
267
2.5
2
35
55
35
false
true
true
false
1.22
1
0.6
Financials:EW;Comm:EW
Hedge
iTraxx_MAIN: +106bps notional
-22
43
DealerA
Electronic
1
88
214
46
HYCap>limit
Hedge
High-yield share above policy cap
189
Reviewed by risk; hedges staggered
C08411
CR1293
2024-12-27
Calm
73
387
3.5
3
1,257,808,340
RealEstate:38.5;Utilities:21.1;Industrials:11.4;Tech:29.0
US:71.0;EU:8.0;APAC:8.6;EMEA:4.6;LATAM:7.8
B:11.4;AAA:23.8;A:43.1;AA:21.7
6.89
20.5
274
346
17.8
3
20
45
25
true
true
false
true
1
1.4
0.34
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
8
21
DealerB
Electronic
9
97
428
-4
VAR>budget
Hedge
Portfolio VAR above budget
130
Tighten HY exposure bands
C08412
CR4884
2025-11-24
Tightening
117
426
4.6
1.6
1,450,700,921
Energy:12.9;Financials:27.3;Utilities:18.1;Industrials:21.5;Consumer:20.1
US:61.5;EU:17.0;APAC:12.2;EMEA:6.6;LATAM:2.8
BB:10.8;AAA:12.3;CCC:17.2;B:7.4;A:24.3;BBB:28.0
2.05
61.2
169
279
13.9
3.5
25
35
35
true
true
true
false
1.38
1.03
-0.14
Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-33
-7
DealerA
DealerAxed
1
99
261
-200
Sector>limit
PauseAdds
Sector concentration above limit
94
Rotate into defensive sectors
C08413
CR0413
2024-03-12
Tightening
134
473
3.9
1.7
2,061,153,435
Energy:20.2;Consumer:52.0;Healthcare:27.7
US:72.3;EU:9.4;APAC:10.8;EMEA:5.3;LATAM:2.2
BB:11.0;AA:17.5;BBB:14.9;CCC:27.0;B:11.0;AAA:18.6
2.17
38.4
98
195
5.2
3
25
45
25
true
true
true
false
1.57
0.82
0.1
Tech:EW;Comm:EW
Hedge
CDX_IG: +118bps notional
-55
-24
DealerB
DealerAxed
0
92
70
-220
HYCap>limit
Reduce
High-yield share above policy cap
206
Reviewed by risk; hedges staggered
C08414
CR7344
2025-08-13
Calm
101
377
3.4
1.8
2,865,966,839
Comm:16.4;RealEstate:16.6;Materials:16.2;Industrials:7.1;Consumer:21.4;Energy:22.4
US:64.5;EU:16.8;APAC:11.7;EMEA:5.4;LATAM:1.6
AA:19.6;AAA:40.0;BB:11.8;A:28.6
2.24
61.9
130
442
5.9
3
30
55
35
false
true
false
false
1.62
0.98
0.13
null
Hedge
CDX_HY: +51bps notional
-55
43
ECN1
RFQ
8
96
-112
-138
Region>limit
Hedge
Regional concentration above limit
249
Reviewed by risk; hedges staggered
C08415
CR4371
2024-08-14
Recovery
129
477
5.4
1.3
481,475,158
Healthcare:47.7;Industrials:39.5;Materials:12.8
US:58.0;EU:16.9;APAC:12.2;EMEA:11.5;LATAM:1.3
BBB:41.5;BB:19.7;CCC:8.2;AA:30.7
6.9
58
141
444
13.6
3.5
35
35
30
true
true
false
false
1.92
0.25
-0.31
Consumer:EW;Materials:EW
Hedge
SingleName_CDS: +193bps notional
19
1
DealerC
All2All
2
100
-181
-339
HYCap>limit
Hedge
High-yield share above policy cap
105
Escalate watchlist names
C08416
CR0768
2024-11-02
Calm
97
420
3.6
1.6
2,844,985,727
Materials:47.6;Industrials:18.1;Utilities:34.3
US:56.3;EU:17.9;APAC:10.6;EMEA:8.2;LATAM:7.1
A:12.2;AAA:24.6;BBB:15.6;AA:24.1;B:23.5
3.87
28.4
101
288
14.1
2.5
20
35
30
true
true
false
false
0.67
1.77
0.05
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-55
-9
ECN1
Electronic
4
93
401
-5
HYCap>limit
Reduce
High-yield share above policy cap
205
Defer adds pending macro print
C08417
CR4610
2024-03-06
Tightening
100
444
4.8
1.2
2,149,302,769
Materials:8.6;RealEstate:24.8;Tech:18.9;Consumer:10.6;Comm:17.3;Industrials:19.7
US:61.7;EU:18.4;APAC:10.1;EMEA:5.8;LATAM:3.9
B:6.1;BBB:17.5;CCC:20.6;A:29.8;AA:25.9
4.56
47
226
311
7.4
3
30
55
25
false
true
true
true
1.4
1.18
0.4
RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-24
-8
DealerB
All2All
1
87
49
-363
HYCap>limit
Reduce
High-yield share above policy cap
259
Rotate into defensive sectors
C08418
CR4583
2025-05-11
Calm
93
298
3.7
2.9
79,589,415
Consumer:33.6;Healthcare:11.0;Materials:12.9;Industrials:12.5;RealEstate:30.0
US:53.2;EU:19.5;APAC:12.7;EMEA:7.4;LATAM:7.3
BB:8.4;B:8.0;AAA:35.1;CCC:10.1;BBB:27.9;AA:10.6
1.38
21.1
154
182
15.5
4
30
55
25
true
false
true
false
0.32
1.43
0.07
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-31
10
ECN1
DealerAxed
6
88
-51
-13
Region>limit
Hedge
Regional concentration above limit
141
Escalate watchlist names
C08419
CR4188
2024-11-25
Recovery
138
420
5.4
1.2
1,684,113,872
Comm:26.1;Healthcare:16.6;Materials:12.9;Industrials:22.1;Utilities:22.3
US:73.2;EU:9.7;APAC:7.5;EMEA:5.2;LATAM:4.4
CCC:15.2;AA:20.4;B:31.8;BBB:14.9;AAA:17.8
4.11
32.6
268
268
14.1
3
25
35
35
true
true
true
true
-0.05
0.76
0.38
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-17
-13
DealerA
Electronic
11
92
-30
102
HYCap>limit
Reduce
High-yield share above policy cap
161
Escalate watchlist names
C08420
CR0025
2024-02-21
Recovery
157
432
5.2
1.7
2,401,863,942
Tech:12.0;RealEstate:26.0;Energy:22.4;Financials:13.2;Utilities:26.4
US:67.2;EU:11.2;APAC:7.7;EMEA:10.3;LATAM:3.7
A:33.5;CCC:7.6;AA:28.3;BBB:30.5
3.93
55.1
110
124
13.9
3.5
25
55
30
true
true
false
false
1.42
0.99
0.25
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-46
-25
DealerB
DealerAxed
8
91
-191
-119
HYCap>limit
Hedge
High-yield share above policy cap
207
Reviewed by risk; hedges staggered
C08421
CR0896
2025-12-13
Calm
110
291
3.5
2.3
1,672,478,129
Financials:24.7;Utilities:7.6;Healthcare:12.8;Materials:26.7;Energy:7.4;Tech:20.8
US:60.8;EU:6.9;APAC:16.3;EMEA:9.0;LATAM:7.1
B:21.8;CCC:15.8;AA:30.7;AAA:31.6
3.48
33.4
229
189
13.4
3.5
20
55
25
true
true
true
true
1.17
1.34
0.08
Utilities:EW;Financials:EW;Comm:EW
Hedge
iTraxx_MAIN: +92bps notional
-30
14
DealerA
All2All
9
88
370
-168
HYCap>limit
Reduce
High-yield share above policy cap
175
Escalate watchlist names
C08422
CR1952
2024-07-29
Calm
115
400
4.4
1.5
956,365,638
Industrials:37.0;Materials:24.4;RealEstate:24.0;Consumer:14.6
US:67.0;EU:15.7;APAC:11.1;EMEA:2.8;LATAM:3.4
CCC:13.4;A:42.6;BBB:30.6;AAA:13.3
2.08
20.7
80
346
14.9
2.5
25
35
20
true
true
false
false
2.18
1.13
0.16
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-47
28
DealerA
All2All
12
96
213
-341
Sector>limit
Reduce
Sector concentration above limit
142
Reviewed by risk; hedges staggered
C08423
CR0588
2024-03-03
Tightening
116
439
4.9
2
2,351,876,415
RealEstate:22.4;Energy:23.0;Utilities:14.3;Consumer:29.1;Financials:11.2
US:77.1;EU:10.6;APAC:5.6;EMEA:4.3;LATAM:2.4
CCC:9.6;B:10.9;A:25.8;BBB:26.9;BB:12.9;AA:13.8
1.19
33
230
476
17.7
3
20
35
25
true
true
true
true
1.55
0.53
0.47
RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-30
34
DealerC
DealerAxed
5
99
-77
-107
Sector>limit
Reduce
Sector concentration above limit
234
Reviewed by risk; hedges staggered
C08424
CR1542
2024-06-29
Calm
77
329
4
2.9
159,708,773
Industrials:19.1;Materials:22.4;Energy:15.7;Financials:15.7;Tech:27.1
US:62.1;EU:13.0;APAC:8.9;EMEA:12.3;LATAM:3.7
B:19.2;CCC:32.2;A:7.2;AAA:21.4;BBB:20.0
2.72
63.5
247
305
16.6
2.5
35
35
25
false
true
true
true
0.96
-0.08
0.21
Utilities:EW
Hedge
SingleName_CDS: +60bps notional
-15
36
DealerA
All2All
12
92
268
-9
HYCap>limit
Hedge
High-yield share above policy cap
242
Rotate into defensive sectors
C08425
CR5179
2025-06-22
Calm
67
324
3.5
2.9
1,262,410,246
Tech:36.3;Energy:20.3;Comm:43.4
US:66.7;EU:14.4;APAC:7.9;EMEA:4.9;LATAM:6.1
BB:16.5;A:23.5;AA:22.6;B:16.4;BBB:21.0
3.41
29.2
126
245
11
3
20
45
20
true
true
true
false
-0.43
0.37
-0.19
RealEstate:EW
Hedge
Options_Payer: +133bps notional
8
14
DealerC
All2All
1
90
258
-383
VAR>budget
Hedge
Portfolio VAR above budget
129
Reviewed by risk; hedges staggered
C08426
CR1589
2024-02-01
Calm
109
418
4.4
1.8
1,080,619,856
RealEstate:29.2;Materials:28.3;Comm:22.9;Financials:19.6
US:66.6;EU:10.8;APAC:11.4;EMEA:8.0;LATAM:3.3
BBB:12.7;AAA:28.3;CCC:7.9;B:7.1;BB:24.5;AA:19.6
6.66
61.1
180
410
11.9
4
20
55
25
true
true
true
false
2.18
1.65
-0.04
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-17
33
DealerC
All2All
2
92
54
-93
Region>limit
Hedge
Regional concentration above limit
159
Rotate into defensive sectors
C08427
CR5990
2025-05-05
Stress
167
584
6.2
0.3
130,285,915
Industrials:14.0;Healthcare:12.5;Materials:8.1;Comm:26.6;RealEstate:23.1;Tech:15.7
US:55.5;EU:14.3;APAC:12.8;EMEA:9.3;LATAM:8.1
BB:20.7;B:22.4;CCC:20.8;A:12.0;BBB:13.0;AA:11.1
4.75
55.2
243
526
19.4
3
25
35
25
true
true
true
true
0.54
1.06
0.15
Financials:EW
Hedge
CDX_IG: +144bps notional
-32
21
ECN2
Electronic
3
87
-139
26
VAR>budget
Reduce
Portfolio VAR above budget
210
Tighten HY exposure bands
C08428
CR3468
2025-08-29
Stress
258
735
7
-0.7
505,083,836
Comm:28.7;Tech:10.8;Financials:32.2;Utilities:28.3
US:70.1;EU:11.0;APAC:6.6;EMEA:7.1;LATAM:5.2
CCC:20.5;BB:15.1;BBB:30.8;A:33.6
5.21
35.9
266
503
12.8
3.5
35
55
30
false
true
true
true
2.06
0.85
-0.31
Energy:EW;Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-15
37
ECN1
DealerAxed
11
89
128
-176
HYCap>limit
Hedge
High-yield share above policy cap
136
Reviewed by risk; hedges staggered
C08429
CR6218
2025-06-06
Recovery
165
443
4.7
1.1
2,659,704,508
Healthcare:17.1;RealEstate:10.8;Energy:29.0;Materials:18.4;Utilities:24.7
US:62.0;EU:9.8;APAC:12.5;EMEA:9.8;LATAM:5.9
BB:19.7;A:19.6;BBB:29.6;AAA:31.1
2.74
35.6
154
206
2.3
4
35
55
25
false
true
false
false
2.18
0.55
0.06
Comm:EW
Hedge
iTraxx_XOVER: +85bps notional
-1
-3
DealerC
DealerAxed
9
97
198
-431
HYCap>limit
Reduce
High-yield share above policy cap
234
Tighten HY exposure bands
C08430
CR1331
2025-11-01
Calm
79
285
3.7
2.5
1,139,040,505
Comm:37.1;Financials:20.5;RealEstate:22.1;Materials:20.3
US:63.2;EU:13.0;APAC:11.0;EMEA:10.3;LATAM:2.4
BB:25.1;A:10.0;BBB:19.0;CCC:28.1;AAA:17.8
6.43
42.4
121
302
5.3
3
20
45
30
true
true
true
false
0.69
-0.16
-0.16
null
Hedge
iTraxx_MAIN: +170bps notional
12
23
ECN1
Electronic
10
91
384
-353
HYCap>limit
Hedge
High-yield share above policy cap
255
Reviewed by risk; hedges staggered
C08431
CR4507
2024-06-23
Tightening
103
462
4.4
1.3
2,040,813,784
Utilities:16.5;Energy:21.9;Healthcare:25.4;Tech:28.3;Comm:7.9
US:61.6;EU:18.4;APAC:6.7;EMEA:12.5;LATAM:0.9
BB:26.8;B:25.9;CCC:18.6;BBB:15.5;AA:13.3
3.52
41.3
93
486
4.3
4
20
45
20
true
true
true
false
1.03
1.69
0.44
null
Hedge
CDX_IG: +191bps notional
-38
23
ECN2
RFQ
2
95
92
28
Sector>limit
Rotate
Sector concentration above limit
146
Rotate into defensive sectors
C08432
CR6536
2025-08-15
Calm
91
409
4.5
2.1
1,940,962,756
Consumer:13.3;Tech:40.5;Financials:15.8;Materials:30.4
US:65.6;EU:7.9;APAC:10.8;EMEA:10.3;LATAM:5.3
BB:19.4;AAA:27.6;A:26.3;CCC:6.1;B:20.5
3.76
27.1
138
321
9.3
3.5
20
45
20
true
true
true
false
1.89
0.55
0.02
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-20
37
DealerA
All2All
11
91
276
-380
Region>limit
Hedge
Regional concentration above limit
245
Escalate watchlist names
C08433
CR8066
2025-05-14
Calm
119
366
4
1.6
2,659,127,625
Comm:21.4;Financials:58.1;RealEstate:20.4
US:76.5;EU:6.9;APAC:5.5;EMEA:6.9;LATAM:4.2
BBB:18.7;B:28.1;AAA:32.1;CCC:21.2
7.26
58.7
217
261
2.9
4
20
35
35
true
true
true
true
1.43
1.35
0.53
null
Rotate
From Energy -1.0% to Utilities +1.0%
-7
-16
ECN2
DealerAxed
0
86
-73
-398
HYCap>limit
Reduce
High-yield share above policy cap
154
Defer adds pending macro print
C08434
CR8130
2024-07-17
Recovery
134
512
5
0.2
1,239,010,826
Consumer:16.6;RealEstate:9.9;Tech:33.4;Healthcare:31.2;Financials:8.9
US:67.3;EU:6.1;APAC:7.6;EMEA:13.3;LATAM:5.7
BB:22.2;AAA:13.7;BBB:20.3;A:6.7;CCC:37.0
5.69
56.5
102
231
11.8
3
20
35
35
true
true
true
false
0.05
0.88
0.06
Comm:EW
Hedge
SingleName_CDS: +161bps notional
-26
38
DealerB
All2All
5
99
-7
196
HYCap>limit
Rotate
High-yield share above policy cap
156
Tighten HY exposure bands
C08435
CR9100
2024-12-06
Stress
181
792
7.4
-1.2
1,350,536,977
Healthcare:10.5;Energy:35.3;Financials:16.4;Industrials:15.4;Tech:22.4
US:62.6;EU:15.1;APAC:5.9;EMEA:10.3;LATAM:6.1
BB:30.6;AAA:25.2;B:15.8;CCC:28.4
6.13
63
282
529
23.5
3.5
35
55
25
true
true
true
true
0.93
-0.19
-0.07
Materials:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-54
-14
DealerB
Electronic
3
93
351
-412
Sector>limit
Hedge
Sector concentration above limit
260
Tighten HY exposure bands
C08436
CR9692
2025-03-17
Calm
113
285
3.6
2.4
471,945,225
Energy:24.8;Consumer:15.1;Healthcare:30.0;Industrials:23.8;Materials:6.3
US:67.7;EU:8.9;APAC:11.9;EMEA:10.6;LATAM:0.9
A:11.2;BB:9.0;AAA:30.4;AA:32.0;BBB:17.4
6.41
62.6
260
514
6.9
3
35
45
20
false
true
false
true
1.1
0.96
0.32
Consumer:EW
Hedge
CDX_IG: +195bps notional
-19
43
ECN1
RFQ
4
95
-27
-379
Sector>limit
Rotate
Sector concentration above limit
134
Escalate watchlist names
C08437
CR6975
2025-11-01
Calm
86
320
3.9
1.6
1,105,705,824
Tech:28.2;Financials:26.7;Energy:35.5;Industrials:9.6
US:66.4;EU:7.6;APAC:14.3;EMEA:8.4;LATAM:3.3
AA:29.6;AAA:23.6;CCC:21.0;BB:25.8
4.03
30.4
84
405
17.3
2.5
30
35
35
true
true
true
false
0.02
-0.22
0.59
Materials:EW
Hedge
iTraxx_XOVER: +114bps notional
-5
11
DealerC
DealerAxed
5
89
161
-324
Sector>limit
Hedge
Sector concentration above limit
214
Escalate watchlist names
C08438
CR2493
2024-06-01
Calm
101
344
3.3
2.3
1,315,649,159
Comm:20.1;Healthcare:57.6;Financials:22.2
US:71.8;EU:11.0;APAC:9.1;EMEA:8.0;LATAM:0.1
BBB:36.9;B:12.3;BB:12.4;AAA:32.8;CCC:5.5
3.27
44.8
222
342
8.2
4
20
55
20
true
true
true
true
2.08
0.56
-0.35
Consumer:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-32
4
DealerA
Electronic
0
96
-32
-49
Region>limit
Hedge
Regional concentration above limit
205
Defer adds pending macro print
C08439
CR7032
2024-04-19
Calm
111
352
4
2.4
2,038,853,656
Utilities:43.4;Comm:35.3;Energy:21.4
US:67.0;EU:10.2;APAC:8.7;EMEA:9.9;LATAM:4.2
AA:13.5;AAA:17.5;CCC:17.0;A:11.1;BBB:9.4;BB:31.6
5.28
57.6
277
335
16.9
4
30
35
30
true
true
true
true
1.25
0.95
0.3
null
Hedge
SingleName_CDS: +69bps notional
-54
43
DealerC
All2All
4
97
218
-163
HYCap>limit
Rotate
High-yield share above policy cap
133
Tighten HY exposure bands
C08440
CR4582
2025-09-02
Tightening
98
515
4.9
1.9
1,225,096,469
RealEstate:8.1;Materials:13.5;Comm:22.4;Industrials:20.9;Energy:13.3;Tech:21.7
US:69.6;EU:16.4;APAC:7.1;EMEA:6.6;LATAM:0.4
AAA:50.6;AA:34.8;CCC:7.8;BB:6.8
5.42
31.5
267
484
11.6
3
30
45
20
false
true
false
true
0.28
1.59
-0.37
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-15
-19
DealerB
All2All
11
92
-104
22
Sector>limit
Hedge
Sector concentration above limit
110
Rotate into defensive sectors
C08441
CR9997
2025-12-09
Tightening
108
369
4.9
0.7
2,602,156,484
Healthcare:19.2;Tech:41.1;Consumer:39.7
US:70.0;EU:16.5;APAC:6.0;EMEA:7.5;LATAM:0.0
B:24.9;BB:21.5;BBB:12.4;AA:6.3;AAA:16.8;CCC:18.1
7.26
29.1
113
196
16.2
3.5
25
45
35
true
true
true
false
1.17
0.03
0.54
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-14
43
DealerC
All2All
1
96
98
-412
VAR>budget
Reduce
Portfolio VAR above budget
165
Escalate watchlist names
C08442
CR0493
2025-04-18
Tightening
139
474
4.9
1
1,499,296,111
Healthcare:21.4;Materials:20.0;Comm:18.3;Tech:14.9;Utilities:7.1;Consumer:18.4
US:72.7;EU:5.8;APAC:13.4;EMEA:7.6;LATAM:0.6
AAA:32.2;AA:12.1;BB:14.8;BBB:29.3;B:11.6
3.09
58.5
112
314
13.3
3.5
30
55
25
false
true
true
false
2.13
0.52
0.11
Comm:EW;RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-54
-12
ECN2
RFQ
12
100
241
-162
HYCap>limit
Hedge
High-yield share above policy cap
177
Tighten HY exposure bands
C08443
CR3963
2024-12-06
Tightening
105
377
4.4
1.4
1,903,568,589
Tech:37.3;RealEstate:37.3;Financials:25.4
US:64.1;EU:15.2;APAC:11.3;EMEA:5.7;LATAM:3.7
BB:25.5;B:37.6;BBB:16.8;AA:20.1
5.87
46.2
142
517
7
3.5
25
45
25
true
true
true
false
1.11
1.52
0.41
Energy:EW;Comm:EW
Hedge
CDX_IG: +191bps notional
0
30
ECN1
Electronic
5
87
-74
161
Region>limit
Hedge
Regional concentration above limit
125
Reviewed by risk; hedges staggered
C08444
CR8395
2025-03-25
Calm
69
397
3.7
2.9
2,166,189,874
RealEstate:14.0;Energy:29.2;Comm:56.7
US:74.0;EU:6.0;APAC:5.5;EMEA:9.1;LATAM:5.4
BB:5.5;BBB:37.4;B:5.7;AAA:13.7;AA:21.1;A:16.6
3.63
32.8
147
169
14.5
2
20
45
35
true
true
false
false
0.67
0.28
0.22
Financials:EW;Utilities:EW;Materials:EW
Hedge
iTraxx_XOVER: +160bps notional
-50
4
DealerA
All2All
6
89
45
-193
Region>limit
Hedge
Regional concentration above limit
229
Escalate watchlist names
C08445
CR4213
2025-10-29
Tightening
125
461
5
2
2,889,802,530
Consumer:13.9;Industrials:17.0;Comm:11.0;Tech:16.3;Materials:12.3;RealEstate:29.6
US:60.2;EU:16.5;APAC:12.4;EMEA:9.5;LATAM:1.3
BBB:14.0;AAA:34.9;B:5.2;BB:11.2;CCC:12.9;A:21.8
7.13
62.6
149
135
12.8
4
35
55
25
false
true
true
false
0.37
1.27
-0.2
null
Hedge
SingleName_CDS: +175bps notional
-9
15
DealerA
RFQ
10
97
-156
42
Region>limit
Reduce
Regional concentration above limit
205
Reviewed by risk; hedges staggered
C08446
CR7069
2025-04-04
Tightening
153
373
4.9
1.3
453,476,476
Utilities:17.9;Materials:28.8;Industrials:18.6;RealEstate:19.9;Consumer:14.8
US:64.0;EU:16.4;APAC:8.7;EMEA:9.7;LATAM:1.2
AAA:38.9;A:10.2;CCC:21.1;AA:21.7;BB:8.1
5.93
47.1
215
237
6.5
3.5
30
55
30
false
true
false
true
2.01
-0.1
0.19
Tech:EW
Rotate
From Energy -1.0% to Utilities +1.0%
1
-19
DealerC
RFQ
1
97
-152
-210
Sector>limit
Hedge
Sector concentration above limit
107
Reviewed by risk; hedges staggered
C08447
CR2282
2025-09-11
Calm
104
381
4.4
2.2
1,278,174,828
Tech:7.1;Energy:14.8;Utilities:13.3;Healthcare:26.6;RealEstate:19.4;Consumer:18.7
US:73.8;EU:9.6;APAC:7.2;EMEA:5.9;LATAM:3.5
BB:16.4;AAA:39.5;B:13.2;BBB:30.9
5.55
22.7
169
136
7.9
2
25
55
30
true
true
false
false
-0.42
0.98
-0.36
RealEstate:EW;Industrials:EW
Hedge
Treasury_Futures: +172bps notional
1
7
DealerC
Electronic
3
99
-25
-275
Region>limit
Rotate
Regional concentration above limit
93
Reviewed by risk; hedges staggered
C08448
CR1057
2024-12-20
Tightening
114
494
4.4
1.8
1,423,600,356
RealEstate:24.4;Tech:14.7;Utilities:15.2;Materials:22.2;Comm:14.7;Financials:8.8
US:64.3;EU:6.5;APAC:16.2;EMEA:5.1;LATAM:7.8
BB:26.8;AAA:17.8;CCC:17.0;BBB:38.4
4.36
36.3
197
302
3.7
2.5
25
55
25
false
true
true
false
1.52
0.91
0.19
Tech:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-12
-6
ECN2
RFQ
0
95
339
-457
Sector>limit
Hedge
Sector concentration above limit
233
Escalate watchlist names
C08449
CR9589
2025-03-29
Stress
222
677
8.1
-0.2
2,922,098,401
Industrials:19.0;Comm:63.7;Healthcare:17.4
US:61.7;EU:11.5;APAC:15.7;EMEA:10.8;LATAM:0.4
BB:5.4;BBB:32.6;A:12.0;AAA:32.5;CCC:12.8;B:4.7
2.32
35.7
328
523
18.1
3
30
55
30
true
true
false
true
-0.33
1.71
0.38
null
Rotate
From Energy -1.0% to Utilities +1.0%
-53
0
ECN1
RFQ
10
92
-40
-138
HYCap>limit
Hedge
High-yield share above policy cap
183
Defer adds pending macro print
C08450
CR5602
2025-03-28
Recovery
154
420
4.8
1.6
2,427,449,180
Materials:42.4;Tech:19.7;Consumer:37.9
US:61.7;EU:9.1;APAC:13.4;EMEA:10.1;LATAM:5.7
B:14.7;BB:23.8;CCC:15.9;AA:18.2;A:27.4
7.09
44.3
262
372
14.6
4
35
55
30
true
true
true
true
1.95
0.28
0.31
Materials:EW
Hedge
Treasury_Futures: +183bps notional
-36
-22
ECN1
All2All
10
100
53
-352
Sector>limit
Reduce
Sector concentration above limit
135
Defer adds pending macro print
C08451
CR9038
2024-12-06
Stress
160
562
7.2
-0.4
2,818,472,494
Energy:27.7;Healthcare:9.9;Financials:12.3;Tech:20.4;Industrials:9.1;RealEstate:20.7
US:66.6;EU:12.8;APAC:9.6;EMEA:10.4;LATAM:0.6
B:6.6;AA:36.0;A:23.1;BB:14.9;AAA:19.4
3.62
58.5
294
447
14.4
3
20
55
25
true
true
false
true
0.52
1.14
-0.29
Tech:EW
Hedge
CDX_IG: +153bps notional
-4
-24
DealerB
RFQ
9
90
9
-399
Region>limit
Hedge
Regional concentration above limit
166
Defer adds pending macro print
C08452
CR0397
2024-06-20
Tightening
118
381
4.9
1.5
1,480,446,026
Materials:18.7;Consumer:16.9;Healthcare:30.2;RealEstate:8.6;Tech:13.1;Utilities:12.5
US:78.5;EU:6.1;APAC:7.9;EMEA:4.8;LATAM:2.6
A:35.2;BBB:32.1;CCC:18.4;AAA:14.3
5.97
52.9
188
365
12.7
2.5
35
55
25
false
true
false
false
1.46
1.07
0.15
null
Hedge
CDX_HY: +149bps notional
17
-6
DealerB
DealerAxed
5
99
228
58
Sector>limit
Hedge
Sector concentration above limit
196
Defer adds pending macro print
C08453
CR7863
2025-07-15
Stress
161
848
6.3
0
2,864,015,186
Financials:10.0;Energy:28.3;Utilities:26.3;Healthcare:15.5;Industrials:20.0
US:71.8;EU:5.7;APAC:13.1;EMEA:3.8;LATAM:5.6
A:12.4;AAA:23.9;CCC:16.0;AA:30.9;B:17.0
5.4
28.6
179
605
4.8
2.5
25
35
30
true
true
true
false
-0.03
1.57
0.31
Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-45
21
ECN1
Electronic
2
99
206
61
Sector>limit
Reduce
Sector concentration above limit
243
Rotate into defensive sectors
C08454
CR9503
2025-09-07
Recovery
128
530
4.6
-0.4
2,849,866,502
Consumer:11.9;Materials:12.9;Healthcare:9.4;Industrials:14.9;RealEstate:26.9;Comm:24.0
US:67.7;EU:8.6;APAC:8.7;EMEA:6.5;LATAM:8.5
B:18.0;AA:16.3;A:19.1;AAA:21.4;BBB:25.3
1.98
20.4
197
251
16.2
2
25
45
30
true
true
false
false
1.54
1.51
0.51
Energy:EW;Utilities:EW
Hedge
iTraxx_XOVER: +103bps notional
-37
-24
DealerA
RFQ
4
96
64
10
HYCap>limit
Reduce
High-yield share above policy cap
111
Rotate into defensive sectors
C08455
CR5612
2024-01-16
Recovery
158
488
5
-0.3
1,449,571,637
Consumer:30.2;Tech:8.1;Materials:17.8;Industrials:14.4;Utilities:29.6
US:60.4;EU:6.9;APAC:14.1;EMEA:11.1;LATAM:7.6
CCC:4.8;BB:9.0;BBB:16.5;AAA:16.0;A:27.4;AA:26.3
2.84
64.9
135
403
9.7
3.5
20
55
35
true
true
false
false
2.32
0.74
0.15
Consumer:EW
Hedge
iTraxx_XOVER: +197bps notional
-18
-16
DealerB
RFQ
0
98
249
-226
Sector>limit
Rotate
Sector concentration above limit
167
Tighten HY exposure bands
C08456
CR5969
2025-10-28
Tightening
141
510
4.3
1.7
2,210,706,128
Energy:7.6;Utilities:25.1;Consumer:6.1;Healthcare:23.3;Tech:17.3;Materials:20.7
US:64.5;EU:11.4;APAC:8.9;EMEA:10.1;LATAM:5.2
A:12.8;AA:25.3;AAA:19.3;B:27.3;BBB:15.4
3.27
61.1
119
215
17
3
20
45
35
true
true
false
false
0.19
0.71
-0.14
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-31
-18
ECN2
Electronic
7
89
339
-89
VAR>budget
Reduce
Portfolio VAR above budget
213
Rotate into defensive sectors
C08457
CR1417
2025-02-20
Tightening
152
518
4.8
0.8
735,069,452
Materials:13.0;RealEstate:9.7;Financials:21.8;Utilities:21.8;Tech:16.0;Energy:17.7
US:69.1;EU:6.1;APAC:6.8;EMEA:11.8;LATAM:6.2
BBB:23.7;BB:23.2;CCC:25.3;AAA:27.8
5.16
44.3
152
130
12.5
3.5
20
45
35
true
true
true
false
0.44
1.25
0.09
Industrials:EW
Hedge
CDX_HY: +146bps notional
-3
22
DealerB
DealerAxed
7
96
333
-89
Region>limit
Hedge
Regional concentration above limit
145
Defer adds pending macro print
C08458
CR3503
2025-12-14
Calm
79
332
4.1
2.4
2,152,207,505
Utilities:24.5;Healthcare:28.4;RealEstate:18.3;Financials:28.8
US:69.8;EU:9.5;APAC:9.6;EMEA:7.0;LATAM:4.0
BB:9.5;B:10.9;CCC:10.0;AA:43.0;BBB:26.6
1.03
63.9
94
187
15.4
2.5
30
45
35
false
true
false
false
0.42
1.51
0.49
Healthcare:EW
Hedge
SingleName_CDS: +52bps notional
-56
4
DealerB
Electronic
8
89
350
-193
Sector>limit
Hedge
Sector concentration above limit
171
Escalate watchlist names
C08459
CR1714
2024-08-26
Calm
78
380
4.3
2.3
1,789,659,679
Tech:37.0;Utilities:8.9;Materials:16.1;Financials:38.0
US:76.3;EU:9.7;APAC:6.1;EMEA:6.1;LATAM:1.8
AA:32.2;A:11.7;CCC:25.5;BBB:30.6
0.55
56.7
254
121
9
4
25
35
30
true
true
false
true
0.73
0.59
-0.26
Tech:EW;Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-26
31
DealerA
Electronic
7
100
353
70
HYCap>limit
Hedge
High-yield share above policy cap
141
Escalate watchlist names
C08460
CR2407
2024-08-15
Calm
104
369
3.4
3
177,628,921
Comm:14.0;RealEstate:23.5;Materials:5.4;Industrials:20.4;Energy:11.9;Healthcare:24.8
US:62.8;EU:8.9;APAC:11.2;EMEA:10.0;LATAM:7.1
A:15.2;BB:13.3;B:8.5;CCC:12.4;BBB:21.9;AAA:28.7
5.02
39.2
160
485
2.2
4
35
35
35
false
true
false
false
2.08
0.91
0.52
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-21
20
DealerC
All2All
8
86
393
-333
HYCap>limit
Rotate
High-yield share above policy cap
168
Escalate watchlist names
C08461
CR1018
2025-03-08
Recovery
144
621
6.1
-0.5
2,478,473,908
Utilities:29.8;Materials:15.4;Tech:27.1;Healthcare:13.3;Industrials:14.3
US:68.4;EU:10.3;APAC:16.1;EMEA:4.5;LATAM:0.7
CCC:11.8;BB:15.9;B:11.1;BBB:18.4;AA:42.7
2.67
39.8
260
230
7.9
3
35
55
20
false
true
true
true
0.81
0.01
0.17
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
7
39
ECN1
RFQ
3
85
-133
-311
Sector>limit
Reduce
Sector concentration above limit
202
Reviewed by risk; hedges staggered
C08462
CR2058
2024-07-30
Tightening
145
500
4.2
1.9
2,873,632,366
Healthcare:33.3;Materials:34.5;Utilities:32.2
US:64.9;EU:14.1;APAC:12.4;EMEA:3.0;LATAM:5.5
BB:5.5;BBB:18.2;B:10.2;AA:21.0;A:27.4;AAA:17.7
0.46
61.9
132
173
16.5
2.5
20
55
25
true
true
false
false
2.15
1.06
-0.04
null
Hedge
Options_Payer: +199bps notional
-56
-12
DealerB
RFQ
7
96
78
-252
VAR>budget
Hedge
Portfolio VAR above budget
232
Defer adds pending macro print
C08463
CR3799
2025-09-28
Recovery
138
564
4.6
1
1,061,978,119
Utilities:35.9;RealEstate:10.6;Energy:14.7;Comm:38.8
US:61.6;EU:9.4;APAC:7.3;EMEA:13.0;LATAM:8.7
BBB:29.3;CCC:8.2;AAA:19.0;AA:32.1;A:11.4
2.79
63.9
268
433
7.4
3.5
35
35
35
true
true
false
true
-0
1.63
-0.03
Comm:EW
Hedge
CDX_IG: +71bps notional
-7
37
DealerA
All2All
11
86
201
-64
HYCap>limit
Reduce
High-yield share above policy cap
212
Escalate watchlist names
C08464
CR8705
2024-01-21
Recovery
169
464
6.4
-0.3
1,603,415,153
Energy:31.3;Financials:13.6;RealEstate:20.0;Utilities:23.6;Consumer:11.5
US:64.7;EU:15.0;APAC:8.7;EMEA:9.2;LATAM:2.4
BB:8.2;AAA:21.4;A:11.5;BBB:28.3;AA:14.6;B:16.1
5.74
29.4
239
504
8.3
4
20
35
25
true
true
false
true
-0.37
1.11
0.07
Tech:EW
Hedge
iTraxx_MAIN: +113bps notional
-48
-17
ECN1
DealerAxed
4
90
-163
-157
Sector>limit
Hedge
Sector concentration above limit
260
Rotate into defensive sectors
C08465
CR2455
2025-01-27
Stress
194
747
5.6
-1
488,903,185
Materials:34.2;Healthcare:24.3;Industrials:33.0;Tech:8.5
US:72.2;EU:11.6;APAC:7.1;EMEA:2.9;LATAM:6.1
A:22.2;CCC:34.3;B:13.8;AA:19.3;AAA:10.4
2.87
64.3
146
373
18.1
2.5
25
55
25
true
true
true
false
0.95
0.14
-0.13
Tech:EW
Hedge
iTraxx_XOVER: +168bps notional
-48
-25
ECN2
Electronic
1
100
-218
-297
VAR>budget
Rotate
Portfolio VAR above budget
181
Defer adds pending macro print
C08466
CR1804
2024-08-13
Recovery
117
481
5.5
0
970,273,599
Materials:7.6;Energy:15.4;Industrials:11.9;Consumer:26.6;Tech:14.7;RealEstate:23.8
US:72.1;EU:7.7;APAC:9.7;EMEA:6.0;LATAM:4.6
CCC:18.5;BB:12.0;BBB:20.1;B:14.2;AAA:19.9;AA:15.4
3.48
25.2
155
314
13.2
2
35
45
35
false
true
true
false
1.6
0.85
-0.06
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-16
8
DealerA
RFQ
12
99
10
130
VAR>budget
Reduce
Portfolio VAR above budget
184
Defer adds pending macro print
C08467
CR0569
2024-06-29
Stress
160
655
7
-0.9
213,986,891
RealEstate:26.2;Comm:19.7;Financials:14.5;Energy:24.7;Healthcare:14.9
US:63.8;EU:17.2;APAC:8.4;EMEA:7.0;LATAM:3.7
A:20.1;AA:23.5;BBB:22.6;CCC:33.8
6.59
43.7
346
360
16.9
3.5
30
45
25
false
true
true
true
0.08
0.33
0.09
Healthcare:EW;Energy:EW
Hedge
CDX_HY: +118bps notional
-60
19
ECN2
DealerAxed
8
86
137
84
Sector>limit
Hedge
Sector concentration above limit
149
Rotate into defensive sectors
C08468
CR8028
2025-06-15
Tightening
152
520
4.8
1.2
1,941,725,199
Utilities:15.7;Energy:15.9;RealEstate:21.7;Industrials:21.5;Consumer:16.1;Financials:9.2
US:70.8;EU:9.9;APAC:9.6;EMEA:6.9;LATAM:2.8
AAA:16.6;CCC:18.9;BBB:39.6;B:18.6;BB:6.2
1.43
26.3
270
141
17.5
2.5
30
55
30
false
true
true
true
1.26
1.79
0.25
Materials:EW
Hedge
CDX_IG: +198bps notional
-53
4
DealerB
Electronic
9
88
380
-415
Sector>limit
Reduce
Sector concentration above limit
120
Tighten HY exposure bands
C08469
CR5773
2024-10-17
Tightening
138
368
4.5
1.3
446,800,785
Comm:12.5;Utilities:21.8;Energy:22.0;Industrials:24.8;RealEstate:9.4;Financials:9.5
US:65.6;EU:16.8;APAC:6.9;EMEA:3.3;LATAM:7.4
BB:16.2;B:12.4;A:23.3;AAA:18.9;AA:29.2
4.82
36.5
173
404
10.9
2.5
25
55
25
false
true
true
false
2.29
1.27
-0.13
Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-44
-20
DealerC
RFQ
2
94
-26
-473
HYCap>limit
Rotate
High-yield share above policy cap
110
Tighten HY exposure bands
C08470
CR0659
2025-12-19
Stress
210
718
6.5
-1.5
810,692,445
Consumer:5.9;Energy:19.5;RealEstate:18.7;Utilities:21.3;Industrials:18.4;Comm:16.2
US:71.5;EU:7.4;APAC:12.8;EMEA:6.9;LATAM:1.4
B:9.7;A:20.0;CCC:6.1;AAA:16.5;BBB:34.2;BB:13.5
6.81
61
360
674
17.7
2
35
35
30
false
true
false
true
1.1
1.13
0.45
Tech:EW;Consumer:EW
Hedge
CDX_IG: +81bps notional
14
34
DealerB
DealerAxed
4
86
-77
-40
VAR>budget
Reduce
Portfolio VAR above budget
215
Reviewed by risk; hedges staggered
C08471
CR2468
2025-02-27
Tightening
124
469
4
1.7
680,622,583
Materials:16.2;Industrials:11.0;Tech:15.5;Utilities:38.4;Energy:19.0
US:65.7;EU:12.6;APAC:8.9;EMEA:7.3;LATAM:5.5
A:14.6;B:23.7;AA:27.4;BBB:21.7;BB:12.6
2.13
56.4
214
374
7.7
4
20
35
30
true
true
true
true
-0.29
1.45
0.47
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-34
28
ECN1
All2All
9
86
336
-366
Sector>limit
Hedge
Sector concentration above limit
184
Defer adds pending macro print
C08472
CR0393
2025-08-13
Calm
114
301
4.4
2.8
1,387,261,846
Financials:23.4;Utilities:11.7;Industrials:9.6;Tech:28.8;Materials:26.4
US:56.7;EU:13.3;APAC:15.7;EMEA:8.5;LATAM:5.7
CCC:5.7;B:25.9;BBB:40.0;AA:28.4
1.92
43.3
233
286
9.9
2.5
25
55
25
true
true
true
true
1.79
-0.24
-0.39
RealEstate:EW
Hedge
Treasury_Futures: +175bps notional
19
3
DealerA
DealerAxed
2
97
21
-109
Sector>limit
Hedge
Sector concentration above limit
169
Reviewed by risk; hedges staggered
C08473
CR1470
2025-03-07
Tightening
111
402
4.9
1.8
1,157,388,615
RealEstate:27.6;Materials:50.9;Comm:21.6
US:68.9;EU:11.2;APAC:11.0;EMEA:6.3;LATAM:2.6
B:9.2;AA:17.0;BBB:22.1;BB:3.3;AAA:20.7;A:27.6
6.34
55.5
202
290
12
3
25
35
25
true
true
false
true
1.46
0.93
-0.21
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
7
15
ECN1
DealerAxed
4
85
341
131
HYCap>limit
Hedge
High-yield share above policy cap
234
Rotate into defensive sectors
C08474
CR5932
2024-06-18
Recovery
144
521
4.6
0.3
354,449,563
Comm:17.5;Consumer:18.4;Energy:31.0;RealEstate:17.7;Tech:15.4
US:60.5;EU:15.9;APAC:11.4;EMEA:8.3;LATAM:3.9
AA:14.2;AAA:33.5;A:13.9;CCC:5.7;BBB:27.0;B:5.8
4.69
63.2
118
350
10.9
3.5
20
55
30
true
true
false
false
-0.24
1.13
-0.38
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
0
36
DealerA
DealerAxed
8
95
167
-467
Sector>limit
Hedge
Sector concentration above limit
244
Defer adds pending macro print
C08475
CR1644
2025-01-18
Recovery
140
452
5.8
1.8
159,961,947
Utilities:17.6;Materials:50.8;Industrials:12.5;Financials:19.1
US:67.4;EU:7.5;APAC:7.8;EMEA:10.4;LATAM:6.8
B:5.7;CCC:24.8;AAA:16.1;AA:43.4;BB:10.1
2.81
44.7
171
302
5.3
2
20
45
35
true
true
true
false
0.47
0.26
-0.05
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-22
-14
ECN1
RFQ
4
92
-12
-144
HYCap>limit
Reduce
High-yield share above policy cap
216
Defer adds pending macro print
C08476
CR4495
2024-11-04
Calm
107
370
4.4
2.2
126,656,955
Consumer:33.7;Comm:39.8;Healthcare:11.1;Industrials:15.3
US:61.7;EU:7.0;APAC:16.8;EMEA:6.6;LATAM:7.9
CCC:26.2;B:26.2;AA:23.0;AAA:24.6
6.76
49.9
275
311
17.2
3
20
45
25
true
true
true
true
1.24
0.41
0.04
Comm:EW;Energy:EW;Utilities:EW
Hedge
Options_Payer: +182bps notional
-15
30
ECN1
DealerAxed
3
90
-98
-121
HYCap>limit
Hedge
High-yield share above policy cap
146
Rotate into defensive sectors
C08477
CR4171
2024-12-17
Tightening
152
408
4.5
1.6
1,196,368,248
Industrials:9.7;Financials:21.9;Healthcare:27.3;Utilities:12.0;Energy:12.9;Consumer:16.2
US:63.8;EU:12.3;APAC:13.3;EMEA:9.1;LATAM:1.5
CCC:9.0;AA:12.5;AAA:25.4;BBB:32.3;BB:14.7;B:6.1
6.93
27
198
311
10
2
30
55
35
false
true
false
false
0.08
0.7
0.03
Financials:EW;Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-15
-14
DealerA
RFQ
4
85
-127
-336
HYCap>limit
Hedge
High-yield share above policy cap
162
Tighten HY exposure bands
C08478
CR8048
2025-02-26
Calm
96
294
3.8
1.6
730,544,228
Healthcare:31.4;RealEstate:32.0;Industrials:36.6
US:66.4;EU:11.7;APAC:11.9;EMEA:6.0;LATAM:4.0
AAA:13.2;A:23.4;AA:26.2;BBB:7.7;CCC:29.4
1.98
50.3
155
428
9.1
3.5
30
45
25
true
true
true
false
0.57
0.69
-0.01
Healthcare:EW;Financials:EW
Hedge
Treasury_Futures: +197bps notional
-45
26
DealerB
RFQ
7
100
245
73
HYCap>limit
Hedge
High-yield share above policy cap
187
Defer adds pending macro print
C08479
CR8886
2025-10-19
Calm
90
300
4
2.4
1,560,125,569
Energy:21.7;Financials:14.9;Industrials:6.0;RealEstate:18.6;Materials:13.6;Consumer:25.3
US:68.5;EU:10.1;APAC:8.8;EMEA:10.1;LATAM:2.6
BBB:24.6;B:4.3;CCC:14.1;AA:20.5;A:16.9;AAA:19.5
3.32
42.8
270
127
6.9
2
30
35
25
false
true
false
true
0.83
1.55
-0.33
Energy:EW;Tech:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-19
-7
ECN2
RFQ
6
92
299
70
Region>limit
Hedge
Regional concentration above limit
238
Reviewed by risk; hedges staggered
C08480
CR9953
2024-03-14
Recovery
151
544
5.3
0.4
1,649,352,134
Industrials:16.9;Materials:17.9;Utilities:17.3;Comm:12.1;RealEstate:14.7;Financials:21.0
US:68.0;EU:10.3;APAC:11.7;EMEA:4.6;LATAM:5.4
AA:24.9;BB:34.9;AAA:15.2;B:24.9
1.86
25.9
193
187
13.4
2.5
20
55
20
true
true
true
false
1.8
-0.22
0.05
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-26
-25
ECN2
DealerAxed
2
91
339
-139
HYCap>limit
Reduce
High-yield share above policy cap
153
Defer adds pending macro print
C08481
CR0351
2024-06-07
Calm
100
283
4.1
2.7
989,272,304
Utilities:20.5;Consumer:12.2;Energy:11.9;Comm:34.9;Healthcare:20.6
US:68.1;EU:13.7;APAC:6.7;EMEA:9.4;LATAM:2.1
BBB:13.2;AA:36.2;BB:25.4;A:25.1
6.62
48.8
255
331
3
3
25
55
35
true
true
false
true
0.69
1.09
-0.36
Utilities:EW
Hedge
Options_Payer: +110bps notional
-10
-6
DealerC
DealerAxed
7
86
-152
-436
Region>limit
Reduce
Regional concentration above limit
175
Defer adds pending macro print
C08482
CR7252
2025-11-11
Stress
250
636
5.5
-0.9
1,880,191,539
Energy:22.7;Financials:15.2;Industrials:30.7;Utilities:31.4
US:69.1;EU:6.5;APAC:12.2;EMEA:7.1;LATAM:5.1
CCC:29.4;BB:15.5;AAA:16.5;B:30.5;BBB:8.2
1.63
34.7
231
332
8.7
3
35
45
30
false
true
true
true
0.17
0.01
-0.32
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-22
9
DealerB
RFQ
5
100
303
-327
Region>limit
Hedge
Regional concentration above limit
219
Rotate into defensive sectors
C08483
CR6699
2025-06-25
Stress
219
634
6.5
-1.2
628,176,955
Consumer:16.4;RealEstate:20.6;Utilities:15.8;Materials:21.0;Financials:15.7;Healthcare:10.6
US:61.8;EU:18.4;APAC:9.9;EMEA:9.6;LATAM:0.2
A:10.7;AA:16.5;CCC:39.6;B:17.5;AAA:15.7
2.16
59.8
222
396
6.6
2
25
35
20
false
true
true
true
0.16
1.17
-0.26
Financials:EW;Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
6
22
DealerA
RFQ
3
98
187
-424
Sector>limit
Hedge
Sector concentration above limit
220
Rotate into defensive sectors
C08484
CR4448
2024-08-18
Stress
238
834
5.4
0.3
1,179,902,889
Consumer:22.0;Utilities:23.8;RealEstate:10.9;Industrials:10.8;Healthcare:19.8;Tech:12.7
US:60.1;EU:12.4;APAC:13.0;EMEA:9.6;LATAM:5.0
AAA:36.4;AA:24.7;B:13.0;BB:8.6;BBB:17.3
3.91
33.7
345
490
17.7
4
25
35
20
false
true
true
true
1.06
-0.06
0.2
null
Hedge
iTraxx_MAIN: +176bps notional
-60
23
DealerA
DealerAxed
1
94
350
-313
Sector>limit
Rotate
Sector concentration above limit
156
Reviewed by risk; hedges staggered
C08485
CR0037
2025-06-16
Stress
155
660
5
-1.2
1,478,983,082
Materials:30.0;Energy:11.1;RealEstate:17.6;Comm:41.3
US:61.6;EU:10.4;APAC:15.3;EMEA:4.1;LATAM:8.7
CCC:33.6;B:29.2;BBB:27.4;AAA:9.8
2.72
64.5
318
647
7.7
3
25
45
35
true
true
true
true
0.34
0.07
0.04
Healthcare:EW;Comm:EW
Hedge
CDX_HY: +100bps notional
-22
-19
DealerC
Electronic
12
96
99
-335
Sector>limit
Hedge
Sector concentration above limit
166
Rotate into defensive sectors
C08486
CR1010
2025-05-25
Stress
211
692
5.5
0.6
2,489,651,314
Energy:23.3;Comm:7.5;Industrials:20.5;Consumer:13.3;Financials:21.0;Utilities:14.4
US:65.9;EU:15.7;APAC:8.9;EMEA:8.2;LATAM:1.4
AA:23.4;CCC:10.8;B:16.2;A:22.9;BBB:20.8;BB:5.8
4.86
34.8
211
628
9.8
2.5
25
55
35
false
true
false
true
-0
0.49
-0.25
RealEstate:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-51
23
DealerB
RFQ
5
90
200
-386
Sector>limit
Reduce
Sector concentration above limit
228
Defer adds pending macro print
C08487
CR7710
2024-01-16
Recovery
132
469
5.5
-0
2,326,533,907
Consumer:32.2;RealEstate:21.3;Tech:46.5
US:65.3;EU:11.0;APAC:12.3;EMEA:6.2;LATAM:5.2
A:20.7;AAA:17.0;BBB:13.8;CCC:29.6;AA:18.9
1.44
39.1
187
397
12.4
4
20
55
25
true
true
true
false
1.1
1.59
-0.06
Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-24
-25
DealerC
DealerAxed
1
97
118
-336
VAR>budget
Hedge
Portfolio VAR above budget
260
Reviewed by risk; hedges staggered
C08488
CR3471
2024-01-25
Stress
204
684
6
-1.8
50,966,020
Materials:31.3;Consumer:39.0;Healthcare:15.4;RealEstate:14.3
US:74.2;EU:10.1;APAC:7.6;EMEA:6.4;LATAM:1.7
AAA:20.8;CCC:7.6;A:36.3;B:14.9;BBB:20.5
1.08
61.2
192
547
17
3
30
45
35
true
true
false
false
0.89
0.5
-0.13
Tech:EW
Hedge
Options_Payer: +117bps notional
-57
2
ECN2
RFQ
5
89
138
-450
Sector>limit
Reduce
Sector concentration above limit
186
Reviewed by risk; hedges staggered
C08489
CR0860
2025-09-19
Tightening
128
460
4.4
2
1,032,869,827
Tech:16.5;Financials:61.7;Industrials:21.8
US:64.5;EU:15.1;APAC:8.8;EMEA:4.2;LATAM:7.4
AA:17.4;A:17.7;BBB:33.1;AAA:20.2;B:2.7;BB:9.0
4.96
56.8
179
348
12.6
3
25
55
35
true
true
false
false
-0.13
1.38
-0.03
null
Rotate
From Energy -1.0% to Utilities +1.0%
-40
-4
ECN2
Electronic
11
89
19
-424
HYCap>limit
Reduce
High-yield share above policy cap
122
Reviewed by risk; hedges staggered
C08490
CR8006
2024-01-16
Tightening
117
477
4.7
1.8
436,713,529
Materials:11.6;Tech:37.3;Utilities:31.7;Energy:19.4
US:61.5;EU:10.7;APAC:13.5;EMEA:10.5;LATAM:3.7
BB:13.4;AAA:5.5;B:27.5;A:13.9;AA:15.9;CCC:23.8
4.85
47.7
200
378
10.5
4
30
35
20
true
true
true
false
1.35
1.72
0.57
RealEstate:EW;Industrials:EW;Comm:EW
Hedge
Options_Payer: +69bps notional
-38
-19
ECN2
Electronic
7
97
111
102
Region>limit
Reduce
Regional concentration above limit
105
Rotate into defensive sectors
C08491
CR3735
2024-10-26
Calm
70
345
3.7
3
1,577,875,260
Energy:21.5;Comm:15.5;Consumer:16.6;Industrials:25.4;Tech:21.0
US:65.6;EU:16.7;APAC:5.1;EMEA:10.6;LATAM:2.0
CCC:6.5;BB:12.9;A:47.1;AA:33.6
3.74
63.3
113
400
15.8
4
35
55
30
false
true
false
false
2.23
1.17
0.06
Energy:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-27
31
DealerA
RFQ
7
94
-109
67
HYCap>limit
Rotate
High-yield share above policy cap
248
Rotate into defensive sectors
C08492
CR2986
2025-05-30
Recovery
107
518
4.7
0.2
2,278,449,681
Energy:18.0;Tech:46.3;Utilities:35.6
US:68.1;EU:11.9;APAC:12.7;EMEA:4.1;LATAM:3.1
A:23.1;CCC:16.7;BB:10.9;BBB:49.2
2.31
58.4
89
385
15.5
3.5
20
55
30
true
true
false
false
0.8
0.26
0.45
null
Rotate
From Energy -1.0% to Utilities +1.0%
-23
45
ECN1
Electronic
9
87
247
-243
HYCap>limit
Hedge
High-yield share above policy cap
100
Escalate watchlist names
C08493
CR9772
2024-10-04
Recovery
143
600
6.1
1.6
162,975,601
Comm:23.9;Industrials:18.2;Financials:23.6;Energy:22.9;Tech:11.5
US:57.1;EU:17.4;APAC:14.2;EMEA:6.1;LATAM:5.2
AA:14.1;AAA:21.1;CCC:27.1;BB:9.2;BBB:13.3;A:15.2
3.53
46.4
126
449
9.9
2.5
20
55
20
true
true
true
false
-0.42
-0.29
0.37
Financials:EW
Hedge
CDX_IG: +112bps notional
-8
-14
DealerC
DealerAxed
10
95
198
54
Sector>limit
Reduce
Sector concentration above limit
215
Defer adds pending macro print
C08494
CR1573
2025-10-13
Tightening
160
465
5.2
0.8
142,930,815
Energy:26.6;Industrials:28.8;Utilities:32.3;Financials:12.4
US:65.5;EU:14.7;APAC:6.6;EMEA:4.9;LATAM:8.3
BBB:21.9;B:29.1;AA:26.3;BB:22.7
5.88
61.2
107
482
5.5
3
30
55
25
true
true
true
false
0.56
0.3
0.1
null
Hedge
SingleName_CDS: +198bps notional
16
16
DealerA
RFQ
2
91
259
22
HYCap>limit
Hedge
High-yield share above policy cap
146
Reviewed by risk; hedges staggered
C08495
CR6722
2024-11-25
Calm
101
374
3.5
2.6
1,521,280,608
Materials:16.4;Financials:24.0;RealEstate:59.6
US:57.0;EU:16.4;APAC:13.5;EMEA:9.3;LATAM:3.8
BB:12.3;B:16.4;CCC:7.3;BBB:64.0
2.42
24.7
274
462
6.5
3
20
45
35
true
true
true
true
2.25
0.63
-0.14
RealEstate:EW;Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
4
11
DealerB
All2All
7
87
-143
10
Sector>limit
Reduce
Sector concentration above limit
92
Escalate watchlist names
C08496
CR1879
2024-07-30
Calm
83
396
4.2
2.9
1,100,339,649
Comm:20.1;Consumer:22.7;Materials:19.2;Utilities:10.6;RealEstate:9.7;Tech:17.7
US:67.8;EU:6.9;APAC:12.2;EMEA:8.9;LATAM:4.3
A:17.7;BB:26.7;AA:19.8;CCC:16.4;B:19.4
7.23
23.9
270
425
7
2.5
25
45
20
false
true
true
true
0.98
0.52
0.44
RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-49
-3
DealerA
DealerAxed
8
85
27
30
Region>limit
Hedge
Regional concentration above limit
103
Tighten HY exposure bands
C08497
CR0027
2024-12-07
Calm
103
308
4
2.2
851,524,503
Industrials:32.3;Financials:28.3;Materials:22.9;Comm:16.4
US:63.7;EU:18.1;APAC:5.7;EMEA:11.5;LATAM:1.0
AA:26.9;B:11.1;A:43.9;AAA:18.1
0.69
28.8
133
379
8.4
2.5
25
35
20
true
true
false
false
1
0.73
-0.11
Comm:EW;Financials:EW
Hedge
SingleName_CDS: +194bps notional
-54
-14
DealerA
Electronic
7
95
248
68
HYCap>limit
Hedge
High-yield share above policy cap
218
Reviewed by risk; hedges staggered
C08498
CR6161
2025-07-25
Tightening
92
396
4.3
1.5
767,082,735
Financials:19.1;Industrials:16.4;Consumer:34.7;Healthcare:29.7
US:53.4;EU:14.7;APAC:14.4;EMEA:9.6;LATAM:7.9
A:29.0;BB:22.3;AAA:23.6;B:25.1
5.31
46.6
214
328
12.7
2
30
35
25
true
true
true
true
-0.09
1.07
-0.16
null
Rotate
From Energy -1.0% to Utilities +1.0%
-37
8
DealerC
DealerAxed
10
86
57
-448
HYCap>limit
Rotate
High-yield share above policy cap
120
Escalate watchlist names
C08499
CR7012
2024-09-26
Tightening
128
518
4.9
1.7
660,015,684
RealEstate:12.6;Utilities:20.1;Healthcare:11.1;Comm:20.7;Financials:27.8;Tech:7.6
US:69.8;EU:8.9;APAC:14.6;EMEA:3.4;LATAM:3.3
A:40.0;BBB:19.1;B:9.4;AAA:31.5
5.95
21.4
141
401
7.8
2
30
55
25
false
true
false
false
1.35
0.12
-0.16
Utilities:EW;Comm:EW
Hedge
Treasury_Futures: +80bps notional
1
39
DealerB
RFQ
1
89
396
-368
HYCap>limit
Reduce
High-yield share above policy cap
116
Defer adds pending macro print
C08500
CR7642
2024-11-17
Tightening
160
502
3.9
1.8
272,697,936
Industrials:12.4;Energy:25.2;Comm:21.1;Healthcare:8.9;Utilities:24.1;Financials:8.3
US:64.5;EU:17.4;APAC:5.7;EMEA:6.7;LATAM:5.7
CCC:18.1;BB:25.4;A:13.2;AA:9.5;AAA:9.6;B:24.2
5.51
25.5
156
498
6.8
2
25
55
30
true
true
true
false
1.31
1.54
0.47
null
Hedge
iTraxx_MAIN: +69bps notional
-9
18
DealerB
DealerAxed
8
94
-7
-170
Sector>limit
Reduce
Sector concentration above limit
137
Tighten HY exposure bands