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
C08801
CR5479
2025-02-14
Stress
233
645
6.3
0.8
2,981,618,293
Financials:21.1;Utilities:16.7;Industrials:9.1;Comm:18.8;Energy:19.6;Healthcare:14.7
US:68.9;EU:11.2;APAC:7.4;EMEA:11.0;LATAM:1.5
B:29.8;BBB:5.8;AA:17.2;A:18.5;BB:6.8;CCC:21.8
3.21
23.2
338
532
12.6
4
30
35
30
false
true
true
true
0.69
0.48
-0.09
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
6
29
DealerC
Electronic
3
92
-145
180
VAR>budget
Reduce
Portfolio VAR above budget
124
Reviewed by risk; hedges staggered
C08802
CR3594
2024-05-14
Stress
196
710
5.5
-2
982,250,748
Energy:26.3;Consumer:27.9;Industrials:12.8;Financials:21.1;Comm:11.9
US:66.3;EU:11.4;APAC:10.0;EMEA:5.5;LATAM:6.8
CCC:11.7;A:15.3;AA:22.6;BB:50.4
2.39
51.2
169
320
19.9
4
35
45
30
false
true
true
false
0.28
0.4
0.26
Tech:EW
Hedge
SingleName_CDS: +96bps notional
-9
33
DealerC
Electronic
10
87
-220
-438
VAR>budget
Hedge
Portfolio VAR above budget
133
Defer adds pending macro print
C08803
CR9696
2024-02-18
Calm
91
366
3.5
3
1,054,794,388
Financials:15.9;Energy:22.3;Healthcare:12.8;Utilities:49.0
US:61.1;EU:6.4;APAC:15.5;EMEA:10.2;LATAM:6.7
BBB:16.2;AA:32.1;B:10.1;BB:15.1;CCC:17.4;AAA:9.1
7.33
53
269
448
7
3
35
35
25
true
true
true
true
-0.24
1.15
-0.36
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
5
-13
ECN2
RFQ
0
93
220
182
Sector>limit
Hedge
Sector concentration above limit
247
Reviewed by risk; hedges staggered
C08804
CR8532
2025-04-01
Tightening
140
474
4.9
0.9
138,204,498
Comm:15.2;Utilities:14.9;Industrials:24.1;Consumer:15.3;Energy:6.3;Financials:24.2
US:74.9;EU:11.8;APAC:7.5;EMEA:4.3;LATAM:1.5
BB:18.5;BBB:5.7;AAA:17.5;AA:4.6;B:36.4;A:17.3
1.11
21.9
236
185
17.7
2
20
55
30
true
true
true
true
0.19
1.34
-0.11
Consumer:EW;Tech:EW
Hedge
CDX_IG: +167bps notional
-29
26
ECN1
DealerAxed
2
93
261
14
Sector>limit
Rotate
Sector concentration above limit
244
Defer adds pending macro print
C08805
CR8202
2024-07-16
Calm
69
317
3.5
2.6
675,415,541
Financials:17.2;Consumer:29.4;Healthcare:8.6;Industrials:33.1;Comm:11.7
US:70.6;EU:9.0;APAC:11.6;EMEA:8.3;LATAM:0.6
BBB:20.7;AA:29.6;AAA:18.7;A:27.4;BB:3.6
5.84
38.7
98
300
15.9
2.5
20
45
35
true
true
false
false
-0.41
0.81
0.32
Industrials:EW;Utilities:EW;Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-8
42
DealerA
RFQ
12
99
68
-389
Region>limit
Hedge
Regional concentration above limit
235
Defer adds pending macro print
C08806
CR9124
2024-03-29
Calm
103
295
4.4
1.5
253,450,306
Comm:18.3;Consumer:27.8;Healthcare:10.2;Tech:27.0;Financials:16.7
US:66.6;EU:12.2;APAC:7.6;EMEA:8.5;LATAM:5.2
AA:38.0;CCC:18.8;AAA:29.6;B:13.6
3.89
57.2
197
373
17.2
3.5
35
35
35
false
true
false
false
0.11
1.78
-0.32
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-3
-1
DealerB
Electronic
1
97
1
177
HYCap>limit
Hedge
High-yield share above policy cap
150
Defer adds pending macro print
C08807
CR3093
2025-03-13
Stress
259
841
7
-0.7
1,235,060,778
Tech:43.0;Healthcare:24.1;Utilities:32.9
US:67.8;EU:7.4;APAC:16.4;EMEA:4.1;LATAM:4.3
AA:26.7;BBB:10.5;B:12.3;BB:18.3;AAA:22.6;CCC:9.7
5.6
45.2
293
554
16.4
3
35
55
20
true
true
true
true
0.46
0.45
0.54
Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-42
3
ECN1
RFQ
2
85
100
53
Sector>limit
Reduce
Sector concentration above limit
104
Defer adds pending macro print
C08808
CR7539
2025-04-04
Tightening
107
382
4.7
1.7
1,644,152,007
Utilities:5.0;Tech:24.7;Energy:14.5;RealEstate:18.1;Comm:19.1;Financials:18.6
US:65.1;EU:16.8;APAC:13.6;EMEA:3.3;LATAM:1.2
BB:33.5;BBB:8.8;AA:23.4;B:17.3;A:16.8
2.75
46.2
171
287
5.1
4
35
35
20
false
true
true
false
1.24
1.07
-0.3
Materials:EW;Industrials:EW
Hedge
Options_Payer: +81bps notional
-33
44
DealerB
All2All
6
90
-82
76
Sector>limit
Hedge
Sector concentration above limit
102
Reviewed by risk; hedges staggered
C08809
CR1444
2025-07-12
Recovery
164
624
5.7
0.6
1,038,533,748
Financials:16.9;Comm:11.6;RealEstate:28.8;Energy:17.4;Consumer:25.3
US:63.2;EU:16.1;APAC:4.7;EMEA:10.2;LATAM:5.8
BBB:24.3;B:8.0;A:30.6;BB:15.9;AAA:13.9;CCC:7.4
3.02
26
161
120
12.8
4
25
45
30
true
true
true
false
1.33
0.26
0.07
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-39
-24
ECN2
DealerAxed
5
91
309
-377
VAR>budget
Reduce
Portfolio VAR above budget
91
Tighten HY exposure bands
C08810
CR4955
2025-08-22
Tightening
124
374
4.9
1.3
2,410,146,706
Materials:25.8;Industrials:6.5;Tech:22.8;Healthcare:27.9;Comm:17.0
US:64.3;EU:11.0;APAC:13.2;EMEA:8.4;LATAM:3.0
AA:19.8;CCC:25.8;AAA:31.7;A:22.7
3.65
55.1
250
496
14
2.5
25
35
20
true
true
true
true
1.89
1.4
-0.34
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
3
27
DealerA
All2All
6
98
-88
-373
Region>limit
Reduce
Regional concentration above limit
145
Tighten HY exposure bands
C08811
CR0323
2024-05-27
Recovery
160
494
4.6
1.4
1,904,570,119
Healthcare:11.3;Tech:6.9;RealEstate:29.8;Comm:23.4;Consumer:28.5
US:61.1;EU:6.9;APAC:17.2;EMEA:14.1;LATAM:0.6
BB:11.0;AAA:45.9;BBB:16.4;AA:26.7
4.34
54.8
247
202
16.1
2
20
55
30
true
true
false
true
0.02
0.35
-0.17
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
7
-14
ECN1
All2All
5
90
-27
-133
HYCap>limit
Reduce
High-yield share above policy cap
95
Reviewed by risk; hedges staggered
C08812
CR0980
2025-07-25
Recovery
166
459
6.4
0.4
2,739,573,471
RealEstate:10.4;Materials:23.5;Financials:24.1;Healthcare:8.6;Tech:6.3;Consumer:27.1
US:68.4;EU:5.8;APAC:12.8;EMEA:6.4;LATAM:6.6
CCC:18.9;AAA:13.0;B:19.6;A:18.5;BB:19.0;AA:11.1
5.56
39.2
129
429
16.8
4
20
35
30
true
true
true
false
0.9
-0.06
-0.06
null
Hedge
Options_Payer: +50bps notional
-12
5
DealerC
DealerAxed
5
99
-136
-351
HYCap>limit
Reduce
High-yield share above policy cap
253
Escalate watchlist names
C08813
CR1174
2024-06-06
Calm
101
387
3.6
2.5
1,212,517,038
Financials:19.8;Consumer:18.3;RealEstate:5.7;Tech:16.1;Energy:20.4;Utilities:19.7
US:56.9;EU:15.5;APAC:12.5;EMEA:11.8;LATAM:3.2
AAA:12.7;AA:5.9;BBB:17.1;B:13.6;CCC:31.5;A:19.2
0.69
37.8
216
184
2.1
4
35
45
25
false
true
true
true
1.62
1.51
0.01
Materials:EW;RealEstate:EW
Hedge
Treasury_Futures: +192bps notional
-6
35
DealerC
RFQ
3
94
171
-412
VAR>budget
Hedge
Portfolio VAR above budget
251
Defer adds pending macro print
C08814
CR1032
2025-09-15
Stress
195
792
5.9
-0.6
1,939,319,041
Industrials:14.1;Tech:18.7;Financials:14.4;Energy:16.6;Comm:17.8;Utilities:18.4
US:68.9;EU:10.2;APAC:9.4;EMEA:8.1;LATAM:3.4
BB:10.3;A:27.4;B:12.8;BBB:9.3;CCC:18.3;AA:21.8
4.36
46.8
156
490
16.8
4
20
55
25
false
true
true
false
-0.22
1.56
0.38
Consumer:EW;Utilities:EW
Hedge
CDX_IG: +112bps notional
-33
11
DealerC
All2All
11
88
259
81
HYCap>limit
Hedge
High-yield share above policy cap
169
Reviewed by risk; hedges staggered
C08815
CR3268
2024-06-11
Tightening
122
383
4.2
0.6
1,300,722,088
Energy:13.1;Consumer:10.8;Industrials:14.4;Materials:26.8;Healthcare:34.8
US:68.8;EU:12.0;APAC:9.9;EMEA:8.3;LATAM:1.0
AA:14.9;B:34.3;BB:34.5;AAA:16.3
5.67
35.7
228
177
17.1
2.5
30
45
35
true
true
true
true
2.16
0.91
0.3
RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-16
-25
ECN2
DealerAxed
1
95
287
-392
Region>limit
Hedge
Regional concentration above limit
253
Rotate into defensive sectors
C08816
CR4302
2025-02-19
Calm
90
331
3.3
2.9
1,712,821,177
RealEstate:29.9;Healthcare:21.9;Consumer:32.0;Tech:16.2
US:72.6;EU:10.5;APAC:6.8;EMEA:8.9;LATAM:1.2
A:26.5;BBB:16.9;CCC:7.8;AAA:10.2;B:20.7;AA:17.9
3.28
39.8
243
389
9.4
3.5
30
55
35
true
true
false
true
0.04
-0.22
-0.3
Industrials:EW;Comm:EW
Hedge
Options_Payer: +195bps notional
-26
-2
ECN1
Electronic
8
96
39
120
Sector>limit
Hedge
Sector concentration above limit
109
Defer adds pending macro print
C08817
CR2498
2025-03-26
Recovery
158
566
6.2
-0
174,733,761
Industrials:14.7;Financials:14.5;Comm:12.6;Energy:17.3;RealEstate:40.9
US:66.7;EU:12.7;APAC:11.9;EMEA:4.7;LATAM:4.1
AA:11.9;B:41.4;CCC:16.7;AAA:11.5;BB:18.5
2.15
41
95
193
3.5
2.5
25
45
25
true
true
true
false
-0.08
1.77
0.16
null
Rotate
From Energy -1.0% to Utilities +1.0%
-42
-20
ECN1
DealerAxed
3
88
220
-172
Sector>limit
Rotate
Sector concentration above limit
142
Escalate watchlist names
C08818
CR9165
2024-10-19
Tightening
110
463
4.3
1.2
1,607,652,421
RealEstate:28.4;Comm:36.7;Tech:34.9
US:62.9;EU:7.1;APAC:14.4;EMEA:10.1;LATAM:5.5
BB:20.5;B:13.9;A:21.8;BBB:21.2;AAA:14.5;AA:8.0
6.53
43.5
211
508
2.3
3.5
20
55
20
true
true
true
true
2.27
-0.29
0.24
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-34
20
DealerB
DealerAxed
10
97
148
-348
HYCap>limit
Reduce
High-yield share above policy cap
222
Reviewed by risk; hedges staggered
C08819
CR8864
2024-09-09
Calm
69
382
3.7
2.7
508,393,112
Industrials:41.7;Utilities:17.3;Energy:41.0
US:64.0;EU:9.0;APAC:12.3;EMEA:9.7;LATAM:5.1
BBB:31.3;BB:13.8;AAA:34.5;CCC:11.1;AA:9.3
5.47
60.9
140
463
12.5
3.5
20
55
35
true
true
false
false
0.31
0.89
-0.37
Industrials:EW
Hedge
iTraxx_MAIN: +115bps notional
-22
-15
DealerC
DealerAxed
4
95
79
101
Region>limit
Rotate
Regional concentration above limit
218
Escalate watchlist names
C08820
CR3061
2024-04-07
Calm
79
301
4.1
2.8
1,101,466,308
Tech:10.6;Materials:6.6;Energy:20.8;RealEstate:16.8;Financials:23.3;Comm:21.9
US:74.9;EU:5.7;APAC:10.0;EMEA:5.8;LATAM:3.6
AAA:23.6;BB:36.1;BBB:24.7;B:15.7
6.74
64
230
335
11.3
2
25
35
30
false
true
true
true
2.47
1.13
-0.29
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-3
-13
DealerB
RFQ
11
100
-100
-212
HYCap>limit
Hedge
High-yield share above policy cap
149
Escalate watchlist names
C08821
CR0546
2025-01-03
Calm
102
368
4.1
2.6
1,843,851,026
Energy:11.6;Financials:13.1;Healthcare:15.0;Comm:16.8;Consumer:18.2;RealEstate:25.2
US:65.7;EU:9.4;APAC:8.9;EMEA:8.6;LATAM:7.4
A:19.1;B:5.6;BB:20.3;AAA:17.2;AA:37.8
3.75
45.8
124
494
6.2
3
30
55
25
false
true
true
false
2.04
0.41
0.41
null
Hedge
SingleName_CDS: +104bps notional
-29
-13
ECN1
RFQ
0
93
122
-317
Sector>limit
Reduce
Sector concentration above limit
236
Tighten HY exposure bands
C08822
CR3942
2025-03-16
Recovery
113
540
6.3
0.7
2,718,539,592
Healthcare:32.9;Materials:27.9;Comm:39.2
US:62.6;EU:15.5;APAC:11.6;EMEA:7.5;LATAM:2.7
AAA:28.1;A:17.0;CCC:9.1;B:21.8;BBB:24.0
4.49
43.3
110
293
17.6
2.5
25
55
20
true
true
true
false
0.3
0.75
0.35
Comm:EW
Hedge
CDX_IG: +186bps notional
-50
31
DealerA
All2All
0
90
123
-179
Region>limit
Hedge
Regional concentration above limit
95
Escalate watchlist names
C08823
CR4792
2024-04-20
Recovery
132
451
5.8
0.4
1,378,207,802
Tech:32.9;Energy:15.7;Healthcare:8.6;Materials:12.0;Financials:30.8
US:71.6;EU:7.4;APAC:5.0;EMEA:9.7;LATAM:6.3
A:8.6;BB:23.6;B:22.0;AAA:10.3;AA:14.6;CCC:21.0
1.03
36.1
158
339
14.5
2
25
35
25
true
true
true
false
0.59
1.66
0.42
Industrials:EW;Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-1
-17
DealerC
DealerAxed
12
89
339
153
VAR>budget
Hedge
Portfolio VAR above budget
128
Reviewed by risk; hedges staggered
C08824
CR4976
2024-05-30
Calm
77
391
3.4
2.4
1,556,012,451
Industrials:22.9;Financials:24.2;Comm:21.1;Utilities:13.5;Consumer:18.3
US:68.0;EU:16.2;APAC:5.0;EMEA:6.5;LATAM:4.3
B:20.2;BB:18.0;CCC:16.4;BBB:13.7;AA:21.2;A:10.5
4.02
40.3
154
158
5.6
4
35
35
25
false
true
true
false
-0.3
1.68
0.33
null
Hedge
CDX_IG: +199bps notional
-3
6
DealerB
All2All
12
99
294
103
VAR>budget
Reduce
Portfolio VAR above budget
178
Reviewed by risk; hedges staggered
C08825
CR8780
2024-03-28
Stress
247
803
7.6
-1
2,205,654,416
Financials:18.1;Materials:46.6;Comm:35.3
US:61.7;EU:14.9;APAC:9.4;EMEA:7.4;LATAM:6.6
BB:12.4;B:38.8;CCC:13.6;AA:11.8;AAA:23.4
5.63
41.5
191
524
15.7
4
25
45
30
true
true
true
false
0.05
0.91
0.43
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-57
18
ECN1
Electronic
8
97
353
169
VAR>budget
Reduce
Portfolio VAR above budget
240
Reviewed by risk; hedges staggered
C08826
CR8747
2024-09-06
Tightening
104
484
3.9
0.5
1,713,769,704
Financials:47.8;Industrials:19.1;Comm:14.5;Energy:18.6
US:71.7;EU:11.5;APAC:10.2;EMEA:5.6;LATAM:1.0
CCC:19.9;BB:8.7;A:24.5;AA:15.9;AAA:30.9
2.2
46
228
152
14
2
20
35
20
true
true
true
true
0.77
0.48
0.44
null
Rotate
From Energy -1.0% to Utilities +1.0%
-43
5
ECN1
Electronic
0
98
12
24
Sector>limit
Reduce
Sector concentration above limit
198
Reviewed by risk; hedges staggered
C08827
CR3042
2024-04-01
Calm
79
414
4.4
2
2,480,831,014
Energy:12.1;Financials:13.4;Comm:16.3;Materials:30.7;Utilities:27.5
US:65.1;EU:15.9;APAC:6.1;EMEA:8.2;LATAM:4.7
AA:11.3;BB:12.5;A:32.7;B:7.3;BBB:18.0;AAA:18.2
5.68
24.9
203
375
11.8
3.5
35
55
25
false
true
false
true
1.26
0.44
-0.21
Utilities:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-48
-19
DealerA
Electronic
8
95
-170
-425
VAR>budget
Reduce
Portfolio VAR above budget
128
Escalate watchlist names
C08828
CR2440
2025-11-18
Recovery
142
506
5.4
1.1
2,937,081,666
Industrials:35.7;Financials:46.9;RealEstate:17.5
US:65.4;EU:14.5;APAC:6.6;EMEA:9.6;LATAM:3.9
AA:32.9;A:13.9;AAA:24.6;CCC:28.6
4.54
48.8
269
297
2.5
4
30
45
25
true
true
true
true
-0.22
-0.27
-0.32
null
Hedge
CDX_IG: +198bps notional
-48
-11
ECN1
RFQ
11
90
61
-366
HYCap>limit
Reduce
High-yield share above policy cap
146
Tighten HY exposure bands
C08829
CR3806
2024-11-26
Calm
104
381
3.6
2.6
2,170,016,550
Consumer:22.9;Healthcare:22.2;Tech:23.1;Comm:22.4;RealEstate:9.3
US:57.5;EU:14.8;APAC:12.7;EMEA:9.2;LATAM:5.8
A:23.0;BBB:13.3;CCC:21.3;B:29.3;AAA:13.2
6.56
54.2
191
257
16.1
2.5
20
45
35
true
true
true
false
2.34
1
0.05
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-20
28
ECN1
All2All
11
86
149
-68
Sector>limit
Hedge
Sector concentration above limit
246
Tighten HY exposure bands
C08830
CR1432
2025-02-02
Stress
159
758
7.9
-1.6
2,031,203,526
Materials:58.0;Financials:21.7;RealEstate:20.3
US:59.5;EU:12.7;APAC:8.8;EMEA:13.8;LATAM:5.2
AAA:18.7;CCC:31.6;BBB:23.9;BB:25.8
1.2
39.1
225
405
11.4
2.5
30
45
30
true
true
true
true
0.14
1.01
0.29
null
Hedge
Treasury_Futures: +125bps notional
-6
13
DealerB
All2All
4
86
31
-245
Sector>limit
Hedge
Sector concentration above limit
254
Escalate watchlist names
C08831
CR4703
2024-11-25
Stress
149
579
6.3
0.3
2,356,972,396
Comm:34.5;Tech:40.3;Industrials:25.2
US:71.6;EU:6.5;APAC:10.5;EMEA:11.2;LATAM:0.2
BBB:21.1;BB:5.5;A:34.2;CCC:7.2;AAA:32.1
1.57
43.5
178
452
15.2
2
20
35
30
true
true
false
false
0.62
0.67
-0.26
null
Hedge
Treasury_Futures: +143bps notional
8
-21
ECN1
DealerAxed
0
96
38
-199
VAR>budget
Rotate
Portfolio VAR above budget
134
Reviewed by risk; hedges staggered
C08832
CR2035
2025-01-24
Calm
87
415
3.5
2.7
1,876,386,843
Utilities:51.7;RealEstate:24.6;Energy:23.7
US:66.3;EU:16.1;APAC:6.7;EMEA:7.1;LATAM:3.8
AAA:32.9;B:14.5;AA:29.5;CCC:13.7;BBB:9.5
6.53
36
224
222
10.7
2.5
35
35
30
true
true
false
true
1.4
0.61
0.52
Healthcare:EW
Hedge
Options_Payer: +126bps notional
-50
40
DealerB
All2All
7
90
46
86
Sector>limit
Hedge
Sector concentration above limit
166
Escalate watchlist names
C08833
CR5551
2025-01-29
Stress
253
626
8.5
-1.2
1,854,169,821
Comm:26.3;Consumer:15.8;RealEstate:17.6;Materials:9.5;Industrials:30.8
US:64.3;EU:18.5;APAC:11.4;EMEA:4.8;LATAM:1.0
AA:11.6;BB:19.4;BBB:32.5;AAA:36.5
4.84
28.9
268
429
22.4
2.5
30
55
35
true
true
false
true
-0.03
0.32
0.49
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-12
8
DealerA
RFQ
9
94
42
158
VAR>budget
Hedge
Portfolio VAR above budget
207
Rotate into defensive sectors
C08834
CR7727
2024-04-28
Calm
69
381
3.3
2.7
2,427,724,657
Industrials:16.9;Energy:25.0;Materials:28.8;Consumer:29.3
US:74.9;EU:7.5;APAC:9.8;EMEA:5.0;LATAM:2.8
BBB:14.7;CCC:6.8;A:16.4;AA:11.4;AAA:21.6;BB:29.1
6.85
28.9
87
319
14.9
2.5
20
35
30
true
true
true
false
1.94
-0.29
-0.08
Tech:EW
Hedge
CDX_IG: +155bps notional
-32
-16
DealerC
DealerAxed
9
90
-142
-6
Sector>limit
Reduce
Sector concentration above limit
104
Escalate watchlist names
C08835
CR8639
2024-02-15
Recovery
176
451
4.6
1.8
1,128,335,941
Energy:25.1;Utilities:24.1;Financials:23.3;RealEstate:27.6
US:62.9;EU:15.6;APAC:7.1;EMEA:8.2;LATAM:6.2
CCC:27.1;BB:28.3;AAA:23.5;BBB:21.2
0.99
52.7
116
196
11.3
2.5
25
35
25
true
true
true
false
2.2
-0.01
0.26
Industrials:EW
Hedge
CDX_HY: +196bps notional
-5
33
DealerC
Electronic
5
90
103
150
HYCap>limit
Hedge
High-yield share above policy cap
239
Escalate watchlist names
C08836
CR0119
2025-09-08
Stress
202
729
6.5
-0.4
460,860,048
Financials:38.8;Healthcare:16.4;Tech:32.7;Consumer:12.1
US:66.1;EU:11.1;APAC:9.7;EMEA:9.3;LATAM:3.9
CCC:10.4;BB:29.4;B:39.5;AA:20.7
6.81
47.5
281
484
17.5
2.5
35
35
30
true
true
true
true
0.28
1.02
0.57
null
Hedge
iTraxx_MAIN: +150bps notional
-34
-18
ECN1
Electronic
4
92
-34
41
Region>limit
Reduce
Regional concentration above limit
139
Reviewed by risk; hedges staggered
C08837
CR2493
2025-05-10
Calm
105
318
4.4
1.8
2,133,560,336
Tech:15.0;Materials:40.3;Utilities:44.6
US:54.5;EU:17.8;APAC:13.8;EMEA:11.5;LATAM:2.4
A:10.7;AAA:15.1;BBB:20.6;CCC:23.7;B:30.0
3.57
22.2
199
351
4.8
2.5
35
55
35
true
false
true
false
0.03
0.24
-0.38
null
Hedge
Treasury_Futures: +129bps notional
-43
42
DealerA
Electronic
8
93
-102
77
HYCap>limit
PauseAdds
High-yield share above policy cap
127
Rotate into defensive sectors
C08838
CR7286
2025-09-11
Calm
76
344
3.3
2.9
643,295,129
RealEstate:14.4;Financials:16.1;Tech:21.2;Materials:5.9;Energy:19.7;Consumer:22.7
US:60.6;EU:17.0;APAC:11.1;EMEA:4.9;LATAM:6.4
BB:23.8;AAA:15.4;CCC:25.2;BBB:6.9;AA:16.5;B:12.2
1.15
47.8
152
297
12.4
2.5
20
35
35
true
true
true
false
0.67
1.74
-0.2
RealEstate:EW
Hedge
Treasury_Futures: +92bps notional
-52
11
DealerB
RFQ
11
90
3
-375
HYCap>limit
Hedge
High-yield share above policy cap
126
Defer adds pending macro print
C08839
CR7639
2025-03-30
Calm
105
292
3.8
2.6
1,101,028,325
Financials:42.9;Utilities:34.5;Materials:22.6
US:58.9;EU:18.4;APAC:6.2;EMEA:8.8;LATAM:7.7
BB:48.9;AA:22.2;B:14.5;BBB:14.5
7.29
56
275
214
12.3
2.5
25
35
30
true
true
true
true
-0.13
1.23
-0.12
Materials:EW;RealEstate:EW;Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-17
20
DealerC
Electronic
2
89
221
95
HYCap>limit
Rotate
High-yield share above policy cap
138
Tighten HY exposure bands
C08840
CR9872
2025-09-25
Stress
146
835
7.9
0.2
2,118,905,473
Utilities:23.3;Consumer:23.4;Financials:16.7;Healthcare:12.0;Energy:24.6
US:62.2;EU:16.8;APAC:14.2;EMEA:3.5;LATAM:3.3
CCC:25.2;BB:10.9;A:27.2;AAA:17.3;B:19.4
4.72
49
159
272
15.3
3
20
35
25
true
true
true
false
1.68
1.14
-0.15
Materials:EW;Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-47
40
DealerC
All2All
2
90
335
-365
Sector>limit
Reduce
Sector concentration above limit
124
Escalate watchlist names
C08841
CR1186
2024-02-07
Tightening
111
451
5
0.9
122,307,889
Financials:26.4;Healthcare:45.6;Industrials:10.4;Tech:17.6
US:69.5;EU:16.1;APAC:8.9;EMEA:3.6;LATAM:1.9
A:21.7;AAA:10.1;CCC:20.1;BB:29.3;B:5.2;AA:13.8
2.38
61.8
269
321
6.4
3
20
55
30
true
true
true
true
2.41
1.35
-0.15
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
4
0
DealerA
All2All
11
85
215
70
HYCap>limit
Hedge
High-yield share above policy cap
230
Rotate into defensive sectors
C08842
CR0960
2024-03-27
Calm
112
308
4
2.4
1,619,059,862
Materials:9.9;Financials:12.8;Utilities:13.0;Energy:26.9;Consumer:7.4;Comm:30.0
US:60.3;EU:14.9;APAC:12.0;EMEA:10.3;LATAM:2.6
AA:24.2;BBB:18.1;CCC:11.0;BB:11.4;A:22.3;AAA:13.1
0.85
37
100
306
4.8
2.5
20
45
25
true
true
false
false
1.47
0.19
-0.3
RealEstate:EW;Healthcare:EW
Hedge
CDX_HY: +120bps notional
-15
-10
ECN2
DealerAxed
3
87
-104
-379
HYCap>limit
Hedge
High-yield share above policy cap
170
Rotate into defensive sectors
C08843
CR5980
2024-12-10
Recovery
109
431
4.8
1
348,432,045
Materials:33.8;Consumer:32.2;Utilities:34.0
US:67.5;EU:7.1;APAC:10.0;EMEA:15.2;LATAM:0.2
B:11.3;AA:21.7;A:17.5;CCC:13.6;AAA:20.7;BBB:15.2
7.34
59.5
129
283
12
2
20
45
30
true
true
false
false
0.33
1.62
-0.16
RealEstate:EW
Hedge
SingleName_CDS: +111bps notional
-36
20
DealerB
RFQ
6
88
-141
-302
HYCap>limit
Reduce
High-yield share above policy cap
207
Reviewed by risk; hedges staggered
C08844
CR1916
2024-09-04
Tightening
132
509
5
0.9
1,273,582,009
Tech:22.3;Materials:26.9;Comm:25.9;Energy:24.9
US:61.5;EU:19.0;APAC:13.8;EMEA:5.3;LATAM:0.4
B:26.6;AA:22.5;CCC:14.3;A:10.8;BB:25.8
6.46
53.3
205
505
6
4
20
55
35
true
true
true
true
0.25
0.96
-0.07
Consumer:EW
Hedge
iTraxx_XOVER: +141bps notional
-17
15
DealerC
All2All
11
96
-27
-377
Region>limit
Reduce
Regional concentration above limit
229
Rotate into defensive sectors
C08845
CR2315
2024-03-11
Calm
119
377
4.4
2.3
815,126,124
Consumer:26.0;Utilities:13.5;Energy:22.2;Financials:15.3;Materials:16.8;Comm:6.2
US:70.4;EU:12.8;APAC:12.0;EMEA:4.1;LATAM:0.7
BB:11.1;BBB:13.5;CCC:18.1;B:24.0;AA:17.4;AAA:16.0
3.53
60.1
99
232
5.1
2.5
20
45
35
true
true
true
false
1.93
1.74
-0.04
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-19
17
DealerC
RFQ
10
98
-19
-410
Region>limit
Hedge
Regional concentration above limit
238
Tighten HY exposure bands
C08846
CR8592
2025-06-07
Tightening
92
514
4.6
0.5
2,969,940,254
Financials:20.2;Comm:15.0;RealEstate:19.0;Consumer:18.5;Industrials:6.8;Healthcare:20.4
US:61.9;EU:16.9;APAC:7.9;EMEA:8.9;LATAM:4.3
BB:41.8;AAA:18.5;BBB:22.3;AA:17.4
3.18
58.7
93
391
12.5
2
30
45
30
false
true
true
false
2.31
1.01
-0.35
null
Rotate
From Energy -1.0% to Utilities +1.0%
-40
-14
DealerA
RFQ
10
99
-28
64
HYCap>limit
Reduce
High-yield share above policy cap
119
Tighten HY exposure bands
C08847
CR0800
2024-05-25
Calm
66
288
3.5
1.9
174,665,850
Financials:52.2;Healthcare:12.2;Tech:35.6
US:66.2;EU:11.0;APAC:12.4;EMEA:7.0;LATAM:3.4
AA:36.3;BBB:10.4;BB:14.8;B:38.4
4.06
61.8
127
329
15.2
3
25
35
25
true
true
true
false
-0.24
-0.26
0.09
Utilities:EW;Industrials:EW
Hedge
CDX_IG: +107bps notional
-11
2
ECN2
DealerAxed
1
90
-68
-299
Sector>limit
Hedge
Sector concentration above limit
102
Escalate watchlist names
C08848
CR0044
2024-02-10
Tightening
132
420
4
1.7
1,209,251,402
Tech:19.3;Utilities:17.8;Energy:11.0;Materials:19.4;Healthcare:32.5
US:67.7;EU:15.1;APAC:12.0;EMEA:2.8;LATAM:2.3
CCC:14.1;BB:19.8;A:12.1;AAA:12.2;BBB:12.6;B:29.2
3.59
55.5
211
483
9.7
4
35
55
20
false
true
true
true
2.26
0.84
0.55
RealEstate:EW
Hedge
iTraxx_MAIN: +124bps notional
-27
18
ECN1
Electronic
7
97
-58
-172
HYCap>limit
Reduce
High-yield share above policy cap
142
Defer adds pending macro print
C08849
CR3666
2025-01-14
Calm
97
312
4.3
1.7
1,296,022,235
Tech:28.2;Materials:19.1;Industrials:9.2;RealEstate:14.8;Healthcare:14.3;Utilities:14.4
US:62.0;EU:14.9;APAC:8.2;EMEA:13.2;LATAM:1.7
B:33.5;AAA:13.3;BBB:15.7;A:10.8;AA:26.6
6.56
38.7
244
436
8.5
4
20
45
25
true
true
true
true
0.7
1.05
0.53
Utilities:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
2
20
DealerA
Electronic
2
86
254
120
Sector>limit
Rotate
Sector concentration above limit
251
Reviewed by risk; hedges staggered
C08850
CR4154
2024-07-28
Stress
146
579
8
-0.7
651,151,491
Tech:8.7;Utilities:13.3;Comm:16.7;Financials:15.1;Healthcare:15.3;Industrials:30.9
US:68.1;EU:9.2;APAC:6.3;EMEA:11.4;LATAM:4.9
AAA:29.0;AA:18.6;B:27.1;CCC:9.9;BBB:15.4
6.85
21.9
244
262
10.1
3
20
35
25
true
true
true
true
1.17
-0.01
-0.16
Utilities:EW
Hedge
SingleName_CDS: +158bps notional
10
-9
DealerC
All2All
6
96
-143
34
HYCap>limit
Hedge
High-yield share above policy cap
205
Escalate watchlist names
C08851
CR5468
2025-10-08
Calm
115
315
4.1
2.5
902,773,702
Materials:35.5;Utilities:23.7;RealEstate:40.9
US:71.7;EU:8.3;APAC:12.7;EMEA:5.7;LATAM:1.6
A:10.1;CCC:4.7;BB:14.7;B:11.4;AA:32.0;BBB:27.1
4.83
44.2
110
131
6.5
4
35
45
30
true
true
true
false
-0.28
1.07
-0.32
Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-6
14
DealerB
All2All
12
90
105
-280
Sector>limit
Reduce
Sector concentration above limit
124
Reviewed by risk; hedges staggered
C08852
CR4666
2025-12-11
Calm
103
281
3.9
2.1
1,225,656,573
Materials:30.4;Energy:14.5;Comm:55.2
US:66.9;EU:9.8;APAC:7.3;EMEA:8.9;LATAM:7.1
BB:7.6;CCC:12.8;AA:29.4;AAA:18.4;A:10.6;BBB:21.2
2.93
36.8
159
367
17.7
2
25
45
35
true
true
false
false
1.24
1.13
0.3
Tech:EW;Financials:EW
Hedge
CDX_IG: +184bps notional
-55
20
ECN2
All2All
12
88
312
74
HYCap>limit
PauseAdds
High-yield share above policy cap
140
Reviewed by risk; hedges staggered
C08853
CR7370
2025-06-22
Calm
80
417
3.8
2.2
2,988,581,670
RealEstate:13.7;Materials:21.5;Financials:24.0;Tech:22.1;Comm:18.8
US:59.1;EU:22.5;APAC:7.0;EMEA:9.8;LATAM:1.6
CCC:21.6;AAA:11.4;BBB:6.8;BB:30.3;A:20.8;B:9.1
3.4
48.7
210
509
12.7
2
35
35
25
false
true
true
true
1.54
0.76
-0.38
null
Hedge
CDX_IG: +140bps notional
-6
18
DealerB
DealerAxed
2
95
-103
-203
HYCap>limit
Hedge
High-yield share above policy cap
103
Reviewed by risk; hedges staggered
C08854
CR9219
2024-06-05
Recovery
152
463
4.8
-0.4
263,665,016
Healthcare:6.4;Comm:17.2;Utilities:9.6;Financials:25.3;Materials:14.7;RealEstate:26.9
US:65.4;EU:14.5;APAC:12.0;EMEA:4.9;LATAM:3.3
A:7.6;CCC:12.0;AA:21.9;B:8.7;BB:39.0;BBB:10.7
3.11
32.1
141
289
11.9
2
25
35
25
true
true
true
false
2.31
1.17
-0.27
Comm:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-15
4
DealerB
RFQ
6
90
324
139
VAR>budget
PauseAdds
Portfolio VAR above budget
136
Rotate into defensive sectors
C08855
CR6016
2025-03-09
Tightening
109
423
4
1.3
1,264,101,223
Tech:6.2;Healthcare:23.7;Comm:24.9;Utilities:19.1;Materials:26.0
US:60.0;EU:17.7;APAC:10.8;EMEA:8.1;LATAM:3.4
AAA:20.0;BBB:19.1;B:32.9;BB:14.0;CCC:14.1
6.18
20.2
170
320
16.7
3
35
55
30
false
true
true
false
1.38
0.3
0.55
Tech:EW;Materials:EW
Hedge
CDX_HY: +98bps notional
-11
-7
ECN1
RFQ
0
85
97
-101
VAR>budget
Hedge
Portfolio VAR above budget
232
Tighten HY exposure bands
C08856
CR5638
2025-07-14
Calm
81
413
3.3
2.9
1,883,450,014
Industrials:12.8;Materials:33.6;Comm:33.6;Utilities:12.9;Healthcare:7.1
US:67.6;EU:10.7;APAC:6.8;EMEA:10.1;LATAM:4.8
B:16.3;BBB:19.2;A:20.0;AAA:44.4
1.77
57.3
141
265
7.9
3
25
55
25
true
true
false
false
2.47
0.72
0.03
Healthcare:EW;Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-55
30
DealerC
All2All
3
91
129
-260
HYCap>limit
Reduce
High-yield share above policy cap
186
Reviewed by risk; hedges staggered
C08857
CR5465
2024-04-30
Calm
75
350
3.5
2.3
2,398,765,681
Energy:12.4;Tech:25.2;Materials:23.3;Healthcare:9.2;RealEstate:12.1;Financials:17.8
US:65.1;EU:6.6;APAC:15.2;EMEA:10.7;LATAM:2.3
AA:13.0;BBB:16.0;BB:20.2;CCC:30.2;A:20.6
3.51
32.7
155
228
7.9
3
20
35
25
true
true
true
false
0.03
1.17
0.38
RealEstate:EW;Energy:EW
Hedge
iTraxx_XOVER: +117bps notional
-43
8
DealerA
RFQ
12
100
-15
-409
Sector>limit
Rotate
Sector concentration above limit
256
Reviewed by risk; hedges staggered
C08858
CR3665
2025-05-28
Stress
171
552
5.4
0.7
2,394,091,259
Utilities:24.6;Materials:20.1;Consumer:26.7;Tech:28.6
US:65.7;EU:16.8;APAC:8.1;EMEA:5.0;LATAM:4.4
B:14.6;BB:18.8;CCC:17.1;A:15.2;AA:34.3
3.59
60.2
186
627
12.8
3.5
30
45
35
false
true
true
false
1.12
0.35
0.48
null
Rotate
From Energy -1.0% to Utilities +1.0%
-30
-8
ECN2
RFQ
3
94
419
-433
HYCap>limit
Reduce
High-yield share above policy cap
184
Rotate into defensive sectors
C08859
CR7440
2025-04-07
Tightening
138
494
3.9
0.6
734,225,460
Tech:32.0;Healthcare:37.1;Comm:30.9
US:65.0;EU:9.3;APAC:10.3;EMEA:9.3;LATAM:6.0
BBB:13.2;B:32.1;CCC:21.0;A:25.5;AAA:8.1
3.51
44.4
225
131
7.9
3.5
30
55
30
true
true
true
true
-0.05
1.11
0.59
null
Hedge
CDX_HY: +164bps notional
-50
38
DealerA
All2All
8
99
17
-108
Sector>limit
Rotate
Sector concentration above limit
175
Reviewed by risk; hedges staggered
C08860
CR8428
2024-11-24
Stress
175
582
6.6
-1
2,079,104,839
Tech:15.1;Utilities:30.8;Comm:29.4;Energy:24.8
US:71.9;EU:8.1;APAC:8.9;EMEA:7.0;LATAM:4.2
BBB:30.8;A:21.5;CCC:30.2;BB:17.4
2.13
36.1
190
519
13.9
2.5
35
35
35
false
true
true
false
0.35
-0.17
0.06
Comm:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-7
44
DealerB
DealerAxed
11
94
61
-54
VAR>budget
PauseAdds
Portfolio VAR above budget
180
Defer adds pending macro print
C08861
CR9653
2024-05-06
Calm
78
313
3.2
2.2
1,075,096,665
Consumer:45.5;Healthcare:37.0;Energy:17.5
US:74.8;EU:5.2;APAC:10.0;EMEA:10.0;LATAM:0.0
BBB:15.3;AAA:32.1;BB:27.0;B:25.6
5.1
29.3
225
353
15.1
2
20
55
35
true
true
true
true
2.24
0.29
0.39
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-10
38
DealerC
RFQ
10
85
-132
-362
VAR>budget
Hedge
Portfolio VAR above budget
182
Tighten HY exposure bands
C08862
CR3641
2025-06-11
Recovery
113
461
5.4
0.4
751,482,071
Industrials:20.9;Healthcare:52.3;Energy:26.8
US:67.1;EU:13.9;APAC:9.5;EMEA:7.2;LATAM:2.2
BBB:10.7;CCC:7.3;B:35.2;AAA:16.2;A:15.2;AA:15.4
4.53
51.7
190
335
7.3
2
25
55
25
true
true
true
false
1.33
-0.01
0.15
Materials:EW
Hedge
CDX_IG: +117bps notional
-45
43
DealerA
Electronic
2
97
336
-67
Sector>limit
Reduce
Sector concentration above limit
225
Tighten HY exposure bands
C08863
CR5458
2024-09-24
Stress
233
712
6.6
-0.3
1,977,869,387
Financials:8.7;Utilities:15.6;Energy:8.0;Industrials:33.4;Materials:34.3
US:75.6;EU:8.0;APAC:9.6;EMEA:3.4;LATAM:3.4
A:29.2;CCC:22.9;B:19.6;AA:28.3
4.31
37.9
251
354
15.8
4
20
55
25
true
true
true
true
1.85
0.01
-0.12
null
Rotate
From Energy -1.0% to Utilities +1.0%
-20
14
DealerC
All2All
2
91
131
-302
HYCap>limit
Rotate
High-yield share above policy cap
134
Rotate into defensive sectors
C08864
CR7316
2025-11-12
Stress
151
550
6
-1.4
1,973,698,716
RealEstate:17.6;Consumer:33.3;Utilities:17.1;Comm:19.3;Healthcare:12.6
US:63.2;EU:10.2;APAC:13.3;EMEA:9.5;LATAM:3.8
AAA:14.0;BB:18.0;CCC:8.6;B:38.9;BBB:11.4;A:9.2
6.77
47.9
239
454
8.3
2
35
45
20
false
true
true
true
-0.29
0.07
0.04
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-24
-3
DealerB
DealerAxed
11
99
7
-25
HYCap>limit
Hedge
High-yield share above policy cap
144
Defer adds pending macro print
C08865
CR4716
2024-05-23
Calm
77
378
4.4
2.3
330,057,884
Financials:10.3;Industrials:16.4;Healthcare:23.4;Utilities:7.8;Comm:20.3;Consumer:21.8
US:74.6;EU:6.2;APAC:11.9;EMEA:4.1;LATAM:3.3
AA:26.5;CCC:17.9;A:36.8;B:18.8
3.85
27.5
178
436
13.3
4
35
45
25
false
true
true
false
1.74
0.71
0.46
Comm:EW;Utilities:EW
Hedge
SingleName_CDS: +120bps notional
5
10
DealerC
All2All
12
97
-78
-388
HYCap>limit
Reduce
High-yield share above policy cap
147
Escalate watchlist names
C08866
CR5253
2025-04-10
Recovery
144
480
4.7
0.2
800,527,147
Healthcare:40.0;Consumer:27.6;Materials:32.5
US:57.6;EU:21.1;APAC:10.8;EMEA:5.7;LATAM:4.8
AA:13.7;A:21.6;BB:13.5;B:30.7;CCC:20.6
2.87
56.8
245
331
9.9
3
20
55
25
true
true
true
true
0.54
1.61
-0.15
Financials:EW;Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-35
40
ECN2
Electronic
11
88
254
-239
VAR>budget
Hedge
Portfolio VAR above budget
174
Tighten HY exposure bands
C08867
CR7328
2025-06-04
Tightening
141
357
4.9
1.7
525,511,536
RealEstate:31.3;Tech:31.0;Financials:28.4;Materials:9.4
US:69.0;EU:7.4;APAC:5.2;EMEA:11.9;LATAM:6.6
BB:11.7;AA:32.6;AAA:49.3;B:6.4
7.41
36.3
140
155
2.8
4
20
55
35
true
true
false
false
1.63
1.18
0.36
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-16
-17
DealerA
Electronic
4
86
122
-312
HYCap>limit
Hedge
High-yield share above policy cap
191
Defer adds pending macro print
C08868
CR8239
2024-01-09
Stress
254
706
5.1
0.3
288,124,252
Financials:23.7;Healthcare:34.7;Materials:41.6
US:56.6;EU:16.4;APAC:15.4;EMEA:4.8;LATAM:6.7
AA:16.0;AAA:34.3;BBB:12.5;B:14.1;BB:17.1;CCC:6.1
6.37
20.6
142
443
13.2
3.5
35
35
30
true
true
true
false
1
0.48
-0.13
null
Rotate
From Energy -1.0% to Utilities +1.0%
-43
-4
DealerA
DealerAxed
7
92
-89
32
HYCap>limit
Rotate
High-yield share above policy cap
250
Rotate into defensive sectors
C08869
CR9399
2025-03-27
Stress
188
795
8.2
-0.9
1,155,528,637
Materials:7.6;Energy:25.7;Utilities:20.8;RealEstate:22.3;Consumer:6.5;Financials:17.1
US:63.9;EU:16.8;APAC:12.3;EMEA:3.1;LATAM:4.0
B:26.4;BB:10.9;AA:9.6;BBB:23.6;CCC:15.5;A:14.1
2.37
37.8
209
557
20
4
20
55
20
true
true
true
true
0.01
1.51
0.24
Comm:EW;Industrials:EW;Consumer:EW
Hedge
iTraxx_MAIN: +173bps notional
-53
15
ECN2
DealerAxed
5
89
225
79
HYCap>limit
Reduce
High-yield share above policy cap
229
Reviewed by risk; hedges staggered
C08870
CR9535
2025-09-27
Calm
73
398
3.3
1.7
871,940,869
Utilities:19.7;Consumer:46.6;Industrials:33.7
US:70.0;EU:13.5;APAC:7.1;EMEA:8.8;LATAM:0.6
BBB:14.1;AA:20.8;B:16.6;CCC:21.8;BB:26.8
4.05
30.2
100
411
6.9
3.5
35
35
35
true
true
true
false
-0.33
0.77
0.14
Comm:EW
Hedge
CDX_IG: +148bps notional
-57
-4
DealerC
Electronic
0
90
-49
126
VAR>budget
Hedge
Portfolio VAR above budget
152
Escalate watchlist names
C08871
CR2464
2025-08-12
Tightening
130
518
4.9
1.1
879,247,761
Utilities:15.7;Energy:11.9;Consumer:22.9;Tech:15.7;Industrials:33.8
US:57.5;EU:17.0;APAC:7.5;EMEA:10.5;LATAM:7.4
BBB:46.1;BB:10.8;B:12.5;AAA:30.6
7.29
39.7
152
194
9
2
25
55
35
true
true
false
false
2.45
0.3
0.21
Materials:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-1
41
DealerA
All2All
7
98
390
-361
Sector>limit
Hedge
Sector concentration above limit
246
Reviewed by risk; hedges staggered
C08872
CR3563
2024-12-04
Stress
212
717
7.9
-0.2
705,020,256
Financials:14.3;Comm:22.0;Healthcare:19.6;Tech:9.7;Industrials:34.4
US:64.9;EU:10.3;APAC:12.0;EMEA:4.5;LATAM:8.4
AA:20.1;A:29.6;BBB:12.5;B:13.7;AAA:20.0;BB:4.0
3.39
24
203
439
15.3
2.5
20
45
25
true
true
false
true
1.17
1.14
0.28
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-21
13
ECN1
All2All
10
93
205
-175
HYCap>limit
Rotate
High-yield share above policy cap
159
Reviewed by risk; hedges staggered
C08873
CR4691
2024-11-07
Calm
77
327
3.3
2.3
2,416,024,953
Financials:41.8;Tech:19.5;Materials:38.7
US:67.3;EU:6.8;APAC:5.9;EMEA:12.6;LATAM:7.3
B:22.1;CCC:30.3;BB:23.0;A:17.8;BBB:6.8
6.03
32.4
217
311
13.6
2
30
45
20
true
true
true
true
2.32
-0.06
0.57
Healthcare:EW;Financials:EW
Hedge
CDX_IG: +147bps notional
-19
10
ECN1
Electronic
8
86
-65
39
HYCap>limit
Reduce
High-yield share above policy cap
148
Escalate watchlist names
C08874
CR5594
2025-12-06
Calm
104
302
3.8
2.4
2,533,261,402
Industrials:13.1;Energy:14.0;Financials:31.6;Healthcare:17.5;Utilities:23.7
US:62.3;EU:11.8;APAC:10.0;EMEA:9.6;LATAM:6.4
BB:10.7;AA:19.4;A:22.0;CCC:8.9;B:14.4;BBB:24.6
5.53
27.6
239
157
16.2
3
35
45
30
false
true
true
true
1.24
1.35
0.18
Utilities:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
18
-21
DealerA
RFQ
4
92
312
75
VAR>budget
Rotate
Portfolio VAR above budget
158
Reviewed by risk; hedges staggered
C08875
CR1006
2024-02-23
Recovery
102
503
5.2
1.4
517,144,980
Energy:36.6;Materials:34.2;Financials:29.3
US:67.0;EU:13.9;APAC:7.2;EMEA:8.9;LATAM:3.0
CCC:20.3;BB:37.4;B:19.8;A:22.6
3.43
23.2
181
388
5
3
20
45
20
true
true
true
false
0.14
0.39
-0.38
Financials:EW;Energy:EW
Hedge
Options_Payer: +197bps notional
-41
-17
ECN2
RFQ
7
96
301
-115
Sector>limit
Hedge
Sector concentration above limit
246
Rotate into defensive sectors
C08876
CR5687
2025-01-10
Calm
99
371
4.4
2.8
995,293,285
Financials:28.1;Utilities:56.9;Materials:15.0
US:63.4;EU:13.6;APAC:11.6;EMEA:6.4;LATAM:5.1
CCC:9.1;AA:33.7;B:8.0;A:49.2
3.4
59.3
208
465
2.1
2
25
55
35
true
true
false
true
1.15
0.82
-0.18
Industrials:EW
Hedge
iTraxx_MAIN: +72bps notional
15
22
DealerB
Electronic
11
98
203
-417
Region>limit
Hedge
Regional concentration above limit
145
Rotate into defensive sectors
C08877
CR7078
2024-06-08
Calm
104
393
3.6
1.8
843,311,339
RealEstate:23.7;Tech:14.6;Energy:42.3;Materials:19.4
US:64.6;EU:11.8;APAC:6.7;EMEA:11.9;LATAM:4.9
A:23.8;BB:25.2;B:39.4;BBB:11.6
7.12
28.7
221
517
7.9
2
20
55
25
true
true
true
true
2.3
0.62
-0.14
null
Hedge
CDX_IG: +62bps notional
-27
16
ECN2
RFQ
0
88
-134
-265
VAR>budget
PauseAdds
Portfolio VAR above budget
235
Reviewed by risk; hedges staggered
C08878
CR0836
2025-01-13
Stress
230
576
7.4
-1.8
859,762,229
Comm:27.7;Utilities:31.0;Materials:9.2;RealEstate:12.2;Tech:19.9
US:66.1;EU:12.5;APAC:12.8;EMEA:4.6;LATAM:4.0
BBB:8.4;AAA:15.6;AA:21.7;B:24.9;CCC:7.1;A:22.3
0.89
56.5
219
506
7.3
3
30
35
35
true
true
false
true
0.27
0.68
0.06
Tech:EW
Hedge
CDX_IG: +161bps notional
-10
7
DealerC
All2All
9
94
358
-76
Region>limit
Rotate
Regional concentration above limit
114
Reviewed by risk; hedges staggered
C08879
CR6342
2024-10-31
Calm
113
328
3.7
2.4
1,343,113,678
Consumer:11.4;Comm:19.9;Financials:10.8;RealEstate:40.1;Industrials:17.8
US:69.2;EU:10.3;APAC:14.1;EMEA:6.3;LATAM:0.0
BBB:22.3;CCC:18.2;AAA:37.3;BB:12.4;B:9.9
1.24
41.6
250
168
15.7
2.5
30
35
25
true
true
true
true
-0.39
1.48
0.51
Utilities:EW;Financials:EW;Tech:EW
Hedge
Options_Payer: +92bps notional
0
41
DealerC
All2All
0
91
-33
-95
Sector>limit
Hedge
Sector concentration above limit
235
Tighten HY exposure bands
C08880
CR0214
2025-08-07
Recovery
125
573
6.3
0.2
874,164,440
Industrials:18.8;Comm:22.5;Financials:32.8;Materials:25.9
US:61.0;EU:14.1;APAC:12.0;EMEA:6.0;LATAM:6.8
AAA:12.1;BBB:18.2;B:20.9;CCC:31.7;A:17.1
1.67
57.7
219
505
17.1
3.5
30
45
35
true
true
true
true
2.16
1.22
-0.32
null
Hedge
iTraxx_MAIN: +120bps notional
14
-15
DealerC
Electronic
3
86
312
175
HYCap>limit
Hedge
High-yield share above policy cap
221
Reviewed by risk; hedges staggered
C08881
CR9499
2025-06-04
Stress
242
762
5.4
-0.7
1,998,674,340
Comm:17.3;Energy:20.1;Tech:17.4;RealEstate:9.9;Industrials:18.9;Healthcare:16.5
US:67.9;EU:7.7;APAC:10.9;EMEA:7.9;LATAM:5.6
AAA:22.1;CCC:20.3;AA:13.5;A:24.0;BB:7.8;B:12.4
7.02
27.7
288
689
15.7
4
30
55
35
false
true
true
true
0.95
1.51
0.15
null
Hedge
Treasury_Futures: +63bps notional
-56
-20
DealerC
Electronic
6
95
28
16
HYCap>limit
Reduce
High-yield share above policy cap
201
Escalate watchlist names
C08882
CR1293
2025-03-24
Stress
167
825
6.9
-1.6
2,540,201,919
Healthcare:21.9;Materials:61.4;Comm:16.7
US:72.0;EU:6.4;APAC:7.9;EMEA:8.0;LATAM:5.8
B:2.5;AAA:13.6;AA:24.8;A:29.8;BBB:20.6;BB:8.7
2.17
31.6
313
433
14
3
30
45
25
true
true
false
true
1.69
1.28
-0.17
null
Hedge
SingleName_CDS: +118bps notional
6
-2
DealerA
All2All
7
93
410
183
Sector>limit
Rotate
Sector concentration above limit
197
Defer adds pending macro print
C08883
CR3011
2024-05-13
Tightening
130
497
4.7
1.4
1,807,740,263
Materials:26.7;Utilities:34.3;RealEstate:12.8;Consumer:26.2
US:53.9;EU:20.2;APAC:10.0;EMEA:12.7;LATAM:3.3
A:14.8;AA:23.9;BB:29.9;CCC:31.4
2.15
52.7
135
351
2.9
2
20
45
35
true
true
true
false
0.76
0.26
-0.15
Consumer:EW
Hedge
CDX_HY: +119bps notional
16
20
DealerB
RFQ
5
85
-200
-416
Region>limit
Hedge
Regional concentration above limit
124
Escalate watchlist names
C08884
CR2696
2025-02-12
Stress
229
820
5.2
-1
491,667,135
Healthcare:7.1;Financials:29.0;Consumer:12.7;Comm:23.2;Utilities:14.3;RealEstate:13.8
US:67.2;EU:12.6;APAC:6.0;EMEA:10.0;LATAM:4.2
CCC:18.4;AAA:13.4;B:27.7;BB:24.0;BBB:16.5
5.31
27
298
467
15.1
4
20
45
35
true
true
true
true
-0.45
0.39
-0.1
null
Hedge
iTraxx_XOVER: +63bps notional
-38
-1
DealerC
DealerAxed
3
92
148
-3
Sector>limit
Reduce
Sector concentration above limit
150
Reviewed by risk; hedges staggered
C08885
CR4697
2024-09-11
Calm
93
311
3.3
2.1
239,689,058
Healthcare:24.4;Comm:18.6;Materials:57.0
US:63.0;EU:9.2;APAC:12.7;EMEA:10.7;LATAM:4.4
A:22.4;BB:4.0;B:14.1;AAA:30.5;AA:18.3;CCC:10.7
2.76
48.1
121
493
9.2
4
35
45
25
true
true
true
false
1.91
0.8
-0.28
Materials:EW;Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-48
-3
DealerC
All2All
8
88
-61
-291
HYCap>limit
Hedge
High-yield share above policy cap
122
Rotate into defensive sectors
C08886
CR7235
2024-12-28
Tightening
138
442
4
1
513,932,227
Materials:13.5;Utilities:23.8;Industrials:20.5;Consumer:9.8;Energy:16.2;Healthcare:16.4
US:69.8;EU:7.1;APAC:14.8;EMEA:5.3;LATAM:3.0
BBB:15.9;BB:13.0;B:28.2;A:18.4;CCC:24.5
0.57
39.6
246
169
16.2
3
35
35
30
false
true
true
true
-0.38
0.45
0.36
Comm:EW;Materials:EW
Hedge
Options_Payer: +123bps notional
19
11
DealerC
RFQ
9
90
7
-98
HYCap>limit
Hedge
High-yield share above policy cap
186
Defer adds pending macro print
C08887
CR5607
2024-12-19
Recovery
128
636
4.8
1.9
483,746,140
Industrials:33.4;Comm:35.0;RealEstate:19.9;Energy:11.7
US:68.0;EU:9.9;APAC:10.4;EMEA:8.2;LATAM:3.4
BBB:17.4;B:27.0;CCC:11.7;AAA:7.8;BB:36.1
1.71
45.3
253
264
13.6
3
35
55
35
false
true
true
true
0.94
1.11
0.06
Consumer:EW;Healthcare:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-43
31
DealerC
DealerAxed
4
88
0
-246
Region>limit
Hedge
Regional concentration above limit
171
Tighten HY exposure bands
C08888
CR8567
2025-11-20
Tightening
149
422
3.9
1
2,353,846,865
Healthcare:4.5;Industrials:20.8;Consumer:20.3;Comm:12.2;Financials:21.4;Tech:20.8
US:69.9;EU:8.7;APAC:16.0;EMEA:4.2;LATAM:1.2
B:40.3;CCC:16.4;AAA:21.8;A:21.5
5.25
22.4
148
492
6.4
2
30
35
35
false
true
true
false
0.77
1.2
0.41
Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-29
-12
ECN2
RFQ
6
86
73
-225
Region>limit
Reduce
Regional concentration above limit
253
Tighten HY exposure bands
C08889
CR9044
2025-05-20
Calm
88
296
4.2
2.9
2,528,040,008
Healthcare:18.2;RealEstate:60.1;Comm:21.7
US:66.0;EU:14.2;APAC:7.1;EMEA:8.3;LATAM:4.3
AAA:46.3;CCC:20.2;AA:19.3;BBB:14.3
2.41
60.8
196
360
15.1
3
30
35
20
true
true
true
false
1.86
-0.26
0.12
Utilities:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
16
-10
DealerC
DealerAxed
1
91
93
-118
Region>limit
PauseAdds
Regional concentration above limit
104
Tighten HY exposure bands
C08890
CR3676
2024-11-08
Calm
118
311
3.4
2.8
1,325,744,193
Financials:21.3;Tech:26.1;Consumer:26.6;Industrials:17.5;Utilities:8.5
US:62.0;EU:7.8;APAC:12.9;EMEA:10.7;LATAM:6.5
BBB:22.6;CCC:24.0;B:24.2;A:14.8;AAA:14.4
0.61
41.3
240
238
17.1
2
35
35
30
false
true
true
true
1.47
0.66
0.11
Tech:EW;Financials:EW
Hedge
CDX_HY: +134bps notional
-40
15
ECN1
Electronic
2
93
165
-257
Sector>limit
Hedge
Sector concentration above limit
185
Defer adds pending macro print
C08891
CR8905
2024-03-02
Stress
241
678
7.7
0.8
2,629,054,265
RealEstate:17.4;Utilities:34.8;Industrials:31.8;Consumer:16.0
US:67.0;EU:6.8;APAC:13.6;EMEA:6.9;LATAM:5.7
AA:17.7;BBB:15.0;B:24.9;BB:14.9;CCC:16.6;A:10.9
5.21
35
253
406
20.6
3
35
45
35
false
true
true
true
0.68
0.04
0.38
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-15
39
ECN1
All2All
2
100
113
-129
HYCap>limit
Reduce
High-yield share above policy cap
137
Rotate into defensive sectors
C08892
CR5473
2025-02-04
Calm
98
307
3.9
1.7
284,648,491
Comm:28.1;Industrials:20.3;RealEstate:51.6
US:61.4;EU:13.5;APAC:7.5;EMEA:11.3;LATAM:6.4
BBB:17.4;A:23.9;BB:36.6;B:22.1
6.9
47.3
261
296
10.3
3.5
35
55
35
true
true
true
true
2.25
0.3
0.11
Consumer:EW
Hedge
iTraxx_XOVER: +55bps notional
-16
-11
DealerC
DealerAxed
10
90
-73
-149
HYCap>limit
Reduce
High-yield share above policy cap
232
Escalate watchlist names
C08893
CR7619
2025-04-02
Stress
243
678
7.2
-0.2
1,907,517,556
Healthcare:12.2;Comm:20.4;Industrials:35.5;RealEstate:32.0
US:72.8;EU:8.9;APAC:6.4;EMEA:6.5;LATAM:5.5
BBB:45.4;CCC:7.3;B:5.0;BB:8.9;AAA:33.4
5.06
51.3
214
454
19.3
2
20
35
35
true
true
false
true
0.22
1.27
-0.32
Tech:EW
Hedge
Options_Payer: +172bps notional
-30
4
ECN1
DealerAxed
2
90
90
124
Sector>limit
Reduce
Sector concentration above limit
187
Tighten HY exposure bands
C08894
CR0419
2025-06-16
Stress
252
610
5.3
0.5
527,543,320
Comm:27.4;Industrials:42.5;Tech:18.7;Healthcare:11.5
US:71.1;EU:9.5;APAC:8.3;EMEA:6.6;LATAM:4.5
A:29.3;B:7.8;CCC:20.8;AAA:42.2
0.9
32.5
393
283
20.5
2.5
20
45
25
true
true
true
true
1.81
0.22
-0.03
Industrials:EW
Hedge
iTraxx_MAIN: +169bps notional
3
-19
DealerB
All2All
0
87
353
-257
Sector>limit
Reduce
Sector concentration above limit
251
Tighten HY exposure bands
C08895
CR4984
2025-04-01
Recovery
149
612
5.6
1
492,614,187
Financials:56.4;Energy:23.8;Healthcare:19.8
US:62.8;EU:8.4;APAC:14.0;EMEA:13.9;LATAM:0.8
BB:20.0;AAA:17.1;AA:16.4;CCC:26.7;A:19.7
1.1
25.9
135
371
13
4
30
55
25
true
true
true
false
2.21
0.8
0.19
RealEstate:EW
Hedge
CDX_HY: +129bps notional
-11
-21
DealerC
All2All
1
89
-8
-398
Region>limit
Hedge
Regional concentration above limit
104
Reviewed by risk; hedges staggered
C08896
CR5113
2024-05-09
Tightening
96
379
4.4
1.9
1,524,233,853
RealEstate:27.9;Tech:39.2;Utilities:19.0;Consumer:13.9
US:60.1;EU:17.3;APAC:8.3;EMEA:8.2;LATAM:6.1
AAA:28.5;B:4.0;BBB:27.9;AA:25.9;BB:13.7
5.88
38.9
130
227
6.7
4
25
45
35
true
true
false
false
1.24
0.05
0.01
Utilities:EW
Hedge
iTraxx_MAIN: +80bps notional
-55
10
ECN2
DealerAxed
6
98
-10
121
HYCap>limit
Reduce
High-yield share above policy cap
168
Rotate into defensive sectors
C08897
CR4381
2024-05-29
Calm
87
395
4
2.5
1,119,472,910
Healthcare:39.0;Consumer:16.1;RealEstate:44.9
US:66.9;EU:8.4;APAC:12.9;EMEA:8.6;LATAM:3.3
AAA:29.5;B:8.7;BBB:18.7;A:24.9;CCC:18.3
5.48
23.4
120
450
3.8
3
20
55
35
true
true
false
false
1.39
1.26
-0.33
null
Rotate
From Energy -1.0% to Utilities +1.0%
-59
-8
DealerC
DealerAxed
7
92
-29
-277
Sector>limit
Reduce
Sector concentration above limit
141
Defer adds pending macro print
C08898
CR4868
2025-12-10
Calm
109
338
3.3
2.1
2,513,578,685
Healthcare:41.3;Industrials:41.3;Comm:17.4
US:63.5;EU:10.1;APAC:14.7;EMEA:4.0;LATAM:7.7
A:40.7;AA:28.2;BB:13.3;AAA:17.8
5.26
49.7
170
149
2.9
4
25
55
20
true
true
false
false
0.9
0.57
0.49
Financials:EW;Healthcare:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-50
41
DealerA
DealerAxed
4
100
436
-219
HYCap>limit
Hedge
High-yield share above policy cap
241
Reviewed by risk; hedges staggered
C08899
CR1260
2024-08-27
Recovery
137
535
6.1
0.4
1,859,835,187
RealEstate:11.5;Financials:29.7;Healthcare:16.2;Materials:29.9;Consumer:12.8
US:61.8;EU:12.6;APAC:11.7;EMEA:7.8;LATAM:6.1
AAA:29.3;B:23.2;A:29.6;BBB:17.9
7.33
61.3
201
443
10.3
2
25
55
35
true
true
false
true
1.22
1.06
-0.14
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-15
-17
ECN2
All2All
3
92
171
-257
Region>limit
Reduce
Regional concentration above limit
242
Escalate watchlist names
C08900
CR5526
2024-09-26
Recovery
165
646
5.4
1.1
797,381,291
Energy:22.9;Materials:27.0;RealEstate:17.5;Healthcare:32.5
US:54.7;EU:21.3;APAC:12.5;EMEA:4.7;LATAM:6.8
BB:19.8;B:11.6;BBB:10.5;A:17.0;AAA:18.2;AA:22.9
1.81
52
192
125
4.1
3.5
20
45
30
true
true
true
false
0.21
-0.26
0.43
Consumer:EW
Hedge
iTraxx_MAIN: +181bps notional
-22
-12
DealerB
RFQ
4
96
266
111
Region>limit
Reduce
Regional concentration above limit
217
Defer adds pending macro print