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
C09301
CR1416
2024-04-03
Calm
105
383
4.5
2.2
703,780,180
Utilities:20.6;Comm:16.3;Healthcare:13.9;Materials:12.6;Energy:24.7;Consumer:11.9
US:68.5;EU:9.3;APAC:12.5;EMEA:5.6;LATAM:4.1
CCC:21.5;B:31.2;AA:20.6;AAA:26.7
4.71
20.4
177
186
12.4
3
25
35
25
false
true
true
false
1.71
0.81
0.15
null
Hedge
CDX_HY: +58bps notional
-35
19
ECN2
DealerAxed
4
87
-2
-111
VAR>budget
Reduce
Portfolio VAR above budget
220
Escalate watchlist names
C09302
CR5217
2024-04-26
Tightening
94
482
4.4
1.1
409,479,481
Consumer:26.6;Healthcare:16.6;Comm:21.9;Industrials:14.0;Utilities:20.9
US:58.0;EU:17.7;APAC:13.4;EMEA:9.5;LATAM:1.5
BBB:15.1;B:36.7;CCC:32.6;BB:15.6
3.63
26.5
250
479
14.7
3
25
45
20
true
true
true
true
2.29
1.42
0.58
Comm:EW
Hedge
CDX_HY: +158bps notional
3
38
ECN2
All2All
9
100
327
-8
HYCap>limit
Rotate
High-yield share above policy cap
168
Escalate watchlist names
C09303
CR5621
2024-04-25
Stress
169
722
6.3
0.7
2,994,624,281
Financials:47.9;Tech:26.8;Comm:25.3
US:66.3;EU:12.1;APAC:5.8;EMEA:10.6;LATAM:5.1
BB:9.5;B:45.9;CCC:11.8;BBB:9.4;AAA:23.4
2.7
52.1
359
646
14.3
2
30
55
30
true
true
true
true
1.85
0.09
-0.33
Comm:EW
Hedge
SingleName_CDS: +53bps notional
16
10
DealerA
All2All
5
87
-121
44
Sector>limit
Hedge
Sector concentration above limit
200
Reviewed by risk; hedges staggered
C09304
CR2139
2024-02-26
Calm
98
301
3.9
1.6
478,506,207
RealEstate:20.0;Consumer:18.2;Materials:9.4;Utilities:24.4;Healthcare:27.9
US:62.5;EU:18.4;APAC:6.9;EMEA:8.3;LATAM:3.9
BBB:35.4;B:9.3;BB:13.5;AA:26.6;A:15.2
0.82
60.5
153
280
2.9
2
20
35
25
true
true
false
false
1.57
0.75
-0.24
Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-25
-1
DealerA
All2All
2
86
264
-1
VAR>budget
Reduce
Portfolio VAR above budget
202
Escalate watchlist names
C09305
CR7452
2025-10-18
Tightening
140
401
4.6
0.7
735,216,587
Energy:26.9;Comm:22.3;Consumer:27.4;Financials:23.4
US:57.1;EU:10.2;APAC:15.2;EMEA:10.8;LATAM:6.7
AAA:16.2;AA:26.4;A:12.2;BB:19.6;CCC:10.3;BBB:15.3
2.8
27.7
267
225
11.8
2.5
30
35
25
false
true
true
true
1.52
0.36
-0.06
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-45
26
ECN2
RFQ
7
99
46
-374
Region>limit
Hedge
Regional concentration above limit
118
Escalate watchlist names
C09306
CR9120
2024-10-14
Calm
90
358
4.1
2.8
2,073,923,874
Consumer:28.4;Healthcare:44.3;Industrials:27.3
US:67.2;EU:14.1;APAC:12.2;EMEA:3.5;LATAM:2.9
B:15.5;BB:20.6;BBB:34.2;AA:17.6;CCC:12.1
1.34
58.3
203
451
13.5
4
25
35
20
true
true
true
true
1.74
1.54
0.5
null
Rotate
From Energy -1.0% to Utilities +1.0%
-15
0
DealerC
DealerAxed
11
100
23
-256
Sector>limit
Hedge
Sector concentration above limit
166
Escalate watchlist names
C09307
CR2236
2024-09-01
Recovery
176
615
4.9
0.6
2,696,934,666
Energy:24.6;Industrials:33.3;Materials:42.1
US:67.3;EU:15.1;APAC:7.6;EMEA:4.9;LATAM:5.1
B:2.3;A:18.1;CCC:10.3;AA:16.5;BB:8.9;AAA:43.8
1.48
49.2
225
328
10.3
2.5
30
45
35
true
true
false
true
2.09
0.7
-0.25
Healthcare:EW;Consumer:EW
Rotate
From Energy -1.0% to Utilities +1.0%
7
34
DealerA
DealerAxed
4
85
113
-149
VAR>budget
Hedge
Portfolio VAR above budget
220
Tighten HY exposure bands
C09308
CR6223
2024-06-28
Stress
223
798
7.9
-0.4
1,008,382,424
RealEstate:36.9;Utilities:39.3;Financials:23.8
US:70.9;EU:6.5;APAC:8.7;EMEA:7.6;LATAM:6.5
B:14.0;AA:33.4;A:18.2;BBB:34.4
3.35
42.8
172
311
5.8
2
35
55
35
true
true
false
false
0.61
0.89
0.6
Tech:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
9
30
DealerC
Electronic
4
87
302
109
Region>limit
Rotate
Regional concentration above limit
245
Defer adds pending macro print
C09309
CR8977
2024-06-15
Recovery
176
539
5.7
1.6
2,801,264,800
RealEstate:17.3;Energy:28.6;Utilities:54.0
US:69.1;EU:16.9;APAC:5.2;EMEA:6.3;LATAM:2.4
A:17.5;AAA:10.6;BBB:19.4;BB:17.1;AA:11.1;CCC:24.4
1.62
54.1
127
475
5.6
3
25
55
25
true
true
true
false
-0.48
0.94
0.17
null
Hedge
Options_Payer: +78bps notional
-18
41
ECN1
RFQ
8
91
188
-97
HYCap>limit
Reduce
High-yield share above policy cap
193
Tighten HY exposure bands
C09310
CR7945
2025-01-08
Tightening
117
447
4.5
0.7
64,599,422
RealEstate:23.8;Energy:20.9;Financials:8.5;Utilities:20.1;Materials:21.3;Tech:5.5
US:61.5;EU:19.4;APAC:7.6;EMEA:9.5;LATAM:1.9
A:14.4;AA:13.9;AAA:27.5;BB:16.2;BBB:21.4;B:6.6
5.18
61.7
154
155
15.5
3
20
55
20
true
true
true
false
2.15
0.35
-0.3
Healthcare:EW
Hedge
CDX_HY: +126bps notional
-51
45
ECN2
Electronic
3
89
332
-227
HYCap>limit
Rotate
High-yield share above policy cap
147
Escalate watchlist names
C09311
CR8907
2024-03-10
Calm
69
408
4
2.9
1,320,117,591
Materials:24.2;Tech:15.1;Energy:19.4;Comm:18.0;RealEstate:23.3
US:65.9;EU:8.8;APAC:13.2;EMEA:11.7;LATAM:0.4
BBB:24.8;AAA:7.7;AA:12.1;B:26.6;CCC:17.4;BB:11.4
2.61
31.5
259
406
2.9
2.5
25
35
25
false
true
true
true
1.39
0.89
-0.11
Financials:EW;Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-51
-6
DealerB
All2All
1
92
361
143
HYCap>limit
PauseAdds
High-yield share above policy cap
154
Rotate into defensive sectors
C09312
CR9976
2024-06-05
Recovery
105
442
5.8
1.2
1,248,005,911
Healthcare:20.0;Utilities:13.4;Consumer:13.1;Comm:21.1;Materials:8.3;Industrials:24.0
US:71.2;EU:8.2;APAC:10.6;EMEA:9.8;LATAM:0.2
AA:19.0;A:37.3;AAA:35.2;BB:8.5
7.01
36
232
242
15.4
4
20
55
35
true
true
false
true
-0.24
0.63
0.41
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-49
33
ECN1
RFQ
2
90
-100
104
HYCap>limit
Rotate
High-yield share above policy cap
239
Reviewed by risk; hedges staggered
C09313
CR6674
2025-12-26
Recovery
167
452
5.5
1.1
1,029,605,002
Financials:54.1;RealEstate:28.1;Comm:17.7
US:67.2;EU:11.5;APAC:9.2;EMEA:7.6;LATAM:4.5
BB:12.7;A:52.8;B:22.9;CCC:11.6
3.34
47.5
125
500
12.9
3
25
45
30
true
true
true
false
2.44
0.57
0.1
Comm:EW;Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
17
37
DealerC
All2All
4
88
179
-38
Region>limit
Rotate
Regional concentration above limit
111
Escalate watchlist names
C09314
CR0893
2025-04-03
Calm
84
299
4.1
2.4
1,957,347,968
Healthcare:15.7;Consumer:7.4;RealEstate:21.4;Comm:20.1;Energy:18.8;Utilities:16.7
US:65.0;EU:13.4;APAC:10.2;EMEA:10.7;LATAM:0.7
CCC:17.8;BB:19.6;B:7.4;AAA:55.2
6.28
30.4
184
383
10.7
3.5
35
35
35
false
true
true
false
1.04
1.05
0.32
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
3
27
DealerB
DealerAxed
10
87
-33
-175
VAR>budget
Reduce
Portfolio VAR above budget
96
Escalate watchlist names
C09315
CR2607
2024-12-05
Calm
104
317
4.3
2.2
2,785,149,612
Healthcare:25.4;Utilities:11.6;Comm:31.4;Tech:31.7
US:69.8;EU:15.9;APAC:6.9;EMEA:6.5;LATAM:0.9
AA:12.1;A:19.8;CCC:14.3;AAA:28.3;BB:10.0;B:15.7
0.54
49.9
240
251
16.2
3.5
35
35
35
false
true
true
true
2.45
0.11
0.01
Comm:EW
Hedge
SingleName_CDS: +132bps notional
-44
24
DealerB
All2All
11
88
221
-42
Sector>limit
Hedge
Sector concentration above limit
139
Escalate watchlist names
C09316
CR1204
2025-02-07
Recovery
136
571
4.6
0.8
2,981,513,787
Healthcare:39.0;Industrials:31.0;Energy:30.0
US:71.3;EU:7.2;APAC:12.0;EMEA:5.4;LATAM:4.1
AA:25.4;A:16.0;BBB:24.7;CCC:21.8;B:12.2
1.64
45.6
94
277
2.4
2.5
30
35
30
true
true
true
false
-0.17
1.47
-0.32
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-50
4
DealerC
Electronic
5
87
427
124
Sector>limit
Rotate
Sector concentration above limit
230
Rotate into defensive sectors
C09317
CR2324
2025-04-10
Stress
244
838
5.8
-1
2,953,176,299
Financials:16.7;Utilities:13.0;Materials:21.6;Comm:9.2;Energy:10.7;Healthcare:28.7
US:68.3;EU:17.6;APAC:9.2;EMEA:3.1;LATAM:1.8
A:30.7;B:28.4;BBB:13.8;AA:27.1
2.97
50.7
335
281
14.4
3.5
30
35
20
false
true
true
true
0.38
0.53
-0.28
Healthcare:EW;Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-10
21
DealerB
DealerAxed
7
96
347
-52
HYCap>limit
Reduce
High-yield share above policy cap
166
Defer adds pending macro print
C09318
CR7558
2025-10-10
Calm
84
358
3.8
2.3
1,214,093,764
Materials:18.2;Utilities:14.8;Tech:17.0;Healthcare:18.0;RealEstate:15.6;Financials:16.4
US:65.9;EU:18.3;APAC:7.4;EMEA:6.6;LATAM:1.7
A:5.9;CCC:26.2;BB:20.9;AA:14.9;AAA:18.8;BBB:13.4
6.61
44.8
152
167
8
3
35
55
25
false
true
true
false
0.54
1.11
0.02
Comm:EW
Hedge
Options_Payer: +175bps notional
10
15
ECN1
DealerAxed
12
95
125
-434
HYCap>limit
Reduce
High-yield share above policy cap
137
Rotate into defensive sectors
C09319
CR0346
2024-10-12
Stress
253
639
7.5
-1.4
2,331,553,654
RealEstate:15.5;Consumer:26.1;Materials:9.7;Utilities:22.3;Financials:26.4
US:69.2;EU:7.8;APAC:9.8;EMEA:9.5;LATAM:3.7
B:22.1;A:37.7;BBB:19.3;AA:20.9
5.82
31.7
146
543
10.4
3.5
20
45
30
true
true
false
false
2.29
-0.26
0.24
null
Hedge
CDX_IG: +76bps notional
-15
3
ECN2
DealerAxed
10
87
166
88
Region>limit
Reduce
Regional concentration above limit
135
Rotate into defensive sectors
C09320
CR4740
2025-06-07
Calm
99
331
4.4
1.9
93,831,417
Energy:12.9;RealEstate:42.5;Tech:44.5
US:60.1;EU:16.0;APAC:13.9;EMEA:9.9;LATAM:0.0
B:29.8;A:34.6;AAA:16.9;CCC:18.7
7.41
45.5
97
159
8.8
2
30
35
35
true
true
true
false
2.16
0.09
0.43
Tech:EW;Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
7
-21
ECN1
Electronic
3
87
50
-372
HYCap>limit
PauseAdds
High-yield share above policy cap
157
Reviewed by risk; hedges staggered
C09321
CR7976
2025-08-01
Stress
183
647
5.9
-1.1
2,205,729,590
Materials:46.5;Healthcare:36.9;Consumer:16.6
US:68.9;EU:10.8;APAC:9.0;EMEA:9.1;LATAM:2.2
A:26.0;AAA:18.7;BBB:22.4;B:4.1;AA:28.9
0.47
43.6
185
677
8.5
3
25
55
20
true
true
false
false
0.24
0.65
-0.2
Consumer:EW
Hedge
iTraxx_XOVER: +103bps notional
3
-14
DealerB
DealerAxed
0
92
-148
-369
Sector>limit
Reduce
Sector concentration above limit
199
Tighten HY exposure bands
C09322
CR0373
2024-07-09
Calm
82
313
3.7
2.7
1,262,150,162
Financials:31.8;Consumer:30.1;Utilities:38.1
US:63.5;EU:8.0;APAC:9.8;EMEA:11.7;LATAM:7.0
AAA:7.0;B:31.4;BB:11.4;BBB:15.9;AA:15.4;CCC:19.0
4.76
45.5
263
183
17.3
2.5
25
35
35
true
true
true
true
1
0.9
-0.02
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
12
25
DealerC
Electronic
2
92
294
-407
Region>limit
Reduce
Regional concentration above limit
209
Reviewed by risk; hedges staggered
C09323
CR3662
2024-10-11
Tightening
155
400
5.1
0.6
2,876,019,301
Tech:16.5;Consumer:31.2;Comm:7.7;Materials:23.6;Healthcare:20.9
US:69.2;EU:6.3;APAC:11.9;EMEA:9.6;LATAM:3.0
B:15.0;BB:20.2;A:34.4;AAA:18.7;CCC:11.7
4.96
58.7
171
354
2.2
2
20
55
25
true
true
true
false
1.89
0.24
0.21
Healthcare:EW
Hedge
CDX_IG: +197bps notional
-38
-8
DealerB
Electronic
2
99
33
12
Region>limit
Hedge
Regional concentration above limit
92
Tighten HY exposure bands
C09324
CR2343
2024-12-16
Recovery
167
470
4.6
1.3
1,657,931,191
Utilities:23.6;Financials:19.6;Healthcare:25.5;Comm:11.9;RealEstate:19.4
US:63.9;EU:14.1;APAC:11.7;EMEA:5.6;LATAM:4.8
A:29.7;BBB:14.6;CCC:5.2;AA:31.0;B:5.6;AAA:13.9
2.02
55.4
185
513
14.2
4
35
55
20
false
true
false
false
1.55
0.5
0.04
null
Rotate
From Energy -1.0% to Utilities +1.0%
-46
16
ECN1
Electronic
7
96
114
101
HYCap>limit
Rotate
High-yield share above policy cap
99
Rotate into defensive sectors
C09325
CR0293
2024-09-17
Calm
77
349
4.4
1.5
178,724,801
Consumer:17.0;Utilities:29.0;RealEstate:13.0;Industrials:21.6;Tech:19.5
US:68.8;EU:11.0;APAC:8.8;EMEA:4.4;LATAM:7.0
BB:33.5;A:24.0;AAA:21.7;AA:20.9
0.49
60.3
218
350
2.7
4
25
55
25
true
true
true
true
2.36
-0.17
0.55
Tech:EW;Industrials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-35
-12
DealerB
RFQ
1
86
120
-202
Region>limit
Reduce
Regional concentration above limit
214
Defer adds pending macro print
C09326
CR0177
2025-08-08
Tightening
91
417
4.6
1.9
2,372,329,545
Industrials:27.6;Financials:19.6;Energy:10.0;Tech:23.2;Comm:19.6
US:58.7;EU:15.7;APAC:10.2;EMEA:8.9;LATAM:6.6
B:32.2;CCC:13.3;BB:25.8;BBB:28.7
0.43
27.4
126
307
14
4
20
55
30
true
true
true
false
1.8
0.02
-0.33
Financials:EW
Hedge
CDX_IG: +198bps notional
-21
8
DealerB
Electronic
6
100
302
-255
Sector>limit
Hedge
Sector concentration above limit
212
Tighten HY exposure bands
C09327
CR4465
2024-01-10
Calm
85
416
3.6
1.7
299,464,315
Energy:18.1;Financials:57.5;Healthcare:24.4
US:65.4;EU:11.9;APAC:12.0;EMEA:8.4;LATAM:2.3
AA:19.6;CCC:26.3;A:18.4;AAA:15.7;B:20.0
6.14
58
109
280
3.9
2
25
55
20
true
true
true
false
0.77
0.79
0.02
null
Hedge
CDX_HY: +173bps notional
-3
15
ECN2
All2All
11
86
63
-317
HYCap>limit
Hedge
High-yield share above policy cap
136
Tighten HY exposure bands
C09328
CR0467
2024-07-26
Tightening
120
508
3.8
0.9
401,784,953
Materials:21.7;Energy:19.7;Utilities:8.3;Industrials:23.5;RealEstate:8.6;Comm:18.2
US:66.1;EU:12.8;APAC:7.8;EMEA:6.5;LATAM:6.8
AAA:22.0;BBB:22.6;A:9.7;B:16.5;BB:8.5;CCC:20.7
1
61.9
192
494
11.6
2
30
55
25
false
true
true
false
1.56
0.76
0.4
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-58
-22
DealerC
All2All
8
88
-130
134
HYCap>limit
Reduce
High-yield share above policy cap
182
Rotate into defensive sectors
C09329
CR7792
2024-03-19
Calm
78
305
4
1.8
1,828,649,137
Energy:22.7;Utilities:25.0;Comm:52.3
US:71.4;EU:9.6;APAC:8.4;EMEA:4.9;LATAM:5.7
AA:27.1;CCC:17.2;B:17.9;BBB:24.4;A:13.4
7.2
60.8
122
245
14.1
3
35
45
30
true
true
true
false
0.15
0.69
0.23
null
Hedge
SingleName_CDS: +135bps notional
0
15
ECN1
All2All
11
100
367
-218
HYCap>limit
Rotate
High-yield share above policy cap
167
Escalate watchlist names
C09330
CR6233
2025-03-30
Tightening
140
441
4.9
0.8
966,176,066
Utilities:19.4;Healthcare:33.9;RealEstate:24.9;Materials:21.8
US:58.9;EU:9.9;APAC:13.9;EMEA:12.5;LATAM:4.8
BB:24.4;CCC:27.9;AA:17.5;B:30.2
4.3
51.3
174
472
15.1
2
25
45
30
true
true
true
false
0.25
0.08
0
Materials:EW
Hedge
iTraxx_XOVER: +144bps notional
-56
36
DealerB
DealerAxed
1
86
-154
-165
VAR>budget
Hedge
Portfolio VAR above budget
184
Rotate into defensive sectors
C09331
CR3383
2025-01-06
Calm
86
413
3.9
2.9
2,009,430,922
Healthcare:31.3;Tech:43.3;Comm:25.4
US:65.3;EU:15.1;APAC:8.8;EMEA:6.4;LATAM:4.3
AAA:19.8;BB:5.9;BBB:28.4;A:23.7;AA:9.9;CCC:12.2
7.11
42.8
200
124
12.1
2
35
35
25
true
true
false
false
-0.41
-0.14
0.27
Comm:EW
Hedge
Treasury_Futures: +79bps notional
15
-3
DealerC
DealerAxed
10
93
261
156
HYCap>limit
Reduce
High-yield share above policy cap
97
Reviewed by risk; hedges staggered
C09332
CR9526
2024-01-06
Calm
109
297
3.8
2.7
93,817,192
RealEstate:24.6;Consumer:32.0;Financials:26.1;Healthcare:17.3
US:58.1;EU:18.7;APAC:7.7;EMEA:9.5;LATAM:5.9
B:24.9;BBB:26.7;CCC:28.0;A:11.8;AAA:8.5
2.14
45.9
226
335
12.4
3
35
45
20
false
true
true
true
0.59
1.37
-0.33
Materials:EW;Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-49
-5
DealerC
All2All
6
91
-115
-401
Sector>limit
PauseAdds
Sector concentration above limit
188
Tighten HY exposure bands
C09333
CR3250
2025-04-25
Calm
92
297
4.2
2.3
1,550,727,266
Energy:23.7;Industrials:11.4;RealEstate:12.8;Financials:11.3;Healthcare:17.5;Tech:23.3
US:66.5;EU:5.2;APAC:12.7;EMEA:12.2;LATAM:3.4
A:16.3;BBB:13.5;BB:27.7;AAA:14.0;CCC:9.5;B:19.0
6.6
61.6
101
390
17.8
2
35
35
30
false
true
true
false
0.49
-0.16
0.25
Healthcare:EW;Consumer:EW
Hedge
SingleName_CDS: +69bps notional
-4
-4
DealerC
DealerAxed
1
98
152
133
Sector>limit
Hedge
Sector concentration above limit
205
Tighten HY exposure bands
C09334
CR0299
2025-06-30
Tightening
100
396
4.3
0.6
655,346,161
Healthcare:24.1;Consumer:19.3;Utilities:23.6;Energy:14.9;RealEstate:10.7;Tech:7.3
US:69.0;EU:5.7;APAC:13.1;EMEA:6.7;LATAM:5.4
AA:23.6;BBB:31.5;A:23.3;B:7.4;AAA:14.2
3.16
45.2
106
480
15.8
2
25
35
35
false
true
false
false
-0.26
1.64
0.34
Healthcare:EW;RealEstate:EW
Hedge
iTraxx_XOVER: +198bps notional
20
-3
DealerB
Electronic
2
99
388
-291
VAR>budget
Reduce
Portfolio VAR above budget
235
Rotate into defensive sectors
C09335
CR9082
2025-06-10
Calm
65
412
4.4
1.7
1,538,620,136
RealEstate:22.6;Utilities:22.4;Industrials:24.3;Consumer:9.6;Energy:21.1
US:63.4;EU:12.8;APAC:11.1;EMEA:8.7;LATAM:3.9
AA:21.1;A:15.6;BB:29.1;BBB:16.3;AAA:7.1;B:10.7
7.17
64.5
246
315
17
2.5
20
35
20
true
true
true
true
1.91
1.74
0.28
Financials:EW;Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-25
23
DealerB
DealerAxed
2
95
-42
-395
Sector>limit
Rotate
Sector concentration above limit
248
Defer adds pending macro print
C09336
CR1005
2024-02-17
Tightening
153
457
5
1.4
1,334,690,555
Utilities:31.6;Materials:26.9;Financials:32.8;Healthcare:8.7
US:61.5;EU:14.7;APAC:12.3;EMEA:9.5;LATAM:2.0
AA:23.5;CCC:12.7;BBB:24.4;A:7.0;AAA:18.7;BB:13.7
5.83
41.3
82
520
4.4
4
20
55
30
true
true
false
false
1.61
-0.14
0.22
Utilities:EW
Hedge
CDX_HY: +123bps notional
-20
9
DealerB
DealerAxed
10
89
47
61
Sector>limit
Reduce
Sector concentration above limit
243
Tighten HY exposure bands
C09337
CR3138
2024-02-20
Tightening
100
426
4.8
1.1
1,710,632,521
Comm:16.0;Materials:23.2;Utilities:19.2;Industrials:19.4;Consumer:22.2
US:63.5;EU:16.2;APAC:9.8;EMEA:7.2;LATAM:3.3
B:8.1;AAA:16.7;BB:9.2;CCC:28.5;AA:12.3;A:25.2
1.39
50.1
230
304
14.6
3
35
35
20
false
true
true
true
0.43
1.26
0.18
null
Rotate
From Energy -1.0% to Utilities +1.0%
-6
38
ECN1
All2All
3
96
54
-378
VAR>budget
Rotate
Portfolio VAR above budget
216
Tighten HY exposure bands
C09338
CR4712
2025-01-05
Calm
106
420
3.5
2.1
1,028,219,963
Energy:31.6;RealEstate:18.1;Comm:30.8;Industrials:8.3;Healthcare:11.2
US:61.9;EU:17.9;APAC:7.7;EMEA:11.3;LATAM:1.2
BB:12.1;CCC:10.6;BBB:24.1;A:25.8;AAA:16.7;AA:10.6
3.97
35.8
258
264
3
4
20
35
30
true
true
false
true
1.77
1.66
-0.39
Industrials:EW
Hedge
SingleName_CDS: +130bps notional
3
-15
ECN2
All2All
5
86
-78
113
VAR>budget
Rotate
Portfolio VAR above budget
153
Escalate watchlist names
C09339
CR8331
2025-01-16
Stress
173
841
5.2
0.7
1,720,200,998
Utilities:19.5;Financials:21.8;Energy:6.2;Healthcare:12.0;Comm:22.0;Materials:18.5
US:62.3;EU:14.3;APAC:11.8;EMEA:9.5;LATAM:2.1
BBB:21.2;AA:19.3;AAA:20.0;BB:39.5
1.17
49.3
187
390
10.3
4
30
45
20
false
true
true
false
0.29
0.62
-0.22
Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-30
43
ECN1
Electronic
7
98
281
106
HYCap>limit
Reduce
High-yield share above policy cap
95
Rotate into defensive sectors
C09340
CR9974
2025-05-19
Tightening
93
498
5.2
1.6
886,043,557
RealEstate:15.9;Comm:41.3;Tech:42.8
US:70.2;EU:7.0;APAC:8.1;EMEA:11.2;LATAM:3.4
B:25.8;AAA:24.7;BBB:15.8;BB:10.9;A:22.8
4.87
40.5
237
506
4.7
4
30
45
35
true
true
true
true
2.25
0.17
-0.34
Industrials:EW;Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
8
-18
ECN1
DealerAxed
8
100
-32
-88
VAR>budget
Reduce
Portfolio VAR above budget
255
Defer adds pending macro print
C09341
CR5393
2024-09-30
Calm
99
338
3.3
2.1
2,685,868,533
Materials:16.3;Tech:15.5;Utilities:10.7;Financials:13.2;RealEstate:28.7;Energy:15.6
US:63.6;EU:13.8;APAC:10.8;EMEA:9.3;LATAM:2.5
BB:11.0;AAA:17.7;B:14.7;AA:32.9;CCC:7.4;A:16.3
4.71
44.1
252
313
9.3
4
25
55
35
true
true
false
true
0.89
0.82
0.14
Financials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-1
29
ECN2
Electronic
9
96
246
-426
VAR>budget
Hedge
Portfolio VAR above budget
110
Tighten HY exposure bands
C09342
CR2894
2024-09-11
Calm
114
295
4.4
2.6
1,263,186,502
Healthcare:16.9;Tech:36.3;Financials:26.4;Utilities:20.4
US:71.7;EU:10.2;APAC:11.0;EMEA:6.4;LATAM:0.7
AAA:15.7;A:25.7;B:27.1;BBB:31.6
7.33
38.5
94
304
12
3.5
25
55
25
true
true
true
false
0.94
1.47
0.27
Utilities:EW;RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-41
5
DealerC
All2All
3
97
187
-379
Region>limit
Hedge
Regional concentration above limit
125
Defer adds pending macro print
C09343
CR2467
2025-08-17
Calm
84
376
3.6
2.2
2,962,868,296
Energy:36.5;Financials:32.5;Utilities:31.0
US:69.5;EU:12.2;APAC:7.0;EMEA:4.3;LATAM:7.0
AAA:30.7;BB:19.5;B:12.1;A:37.7
1.15
21.3
146
487
16
2
30
35
30
true
true
true
false
-0.05
0.75
-0.2
null
Rotate
From Energy -1.0% to Utilities +1.0%
8
-18
DealerA
Electronic
1
96
280
96
VAR>budget
Hedge
Portfolio VAR above budget
207
Reviewed by risk; hedges staggered
C09344
CR5778
2024-11-02
Stress
223
705
7.1
-2
618,088,011
Energy:32.6;Financials:21.5;RealEstate:28.1;Industrials:10.0;Healthcare:7.9
US:65.7;EU:16.4;APAC:5.4;EMEA:8.3;LATAM:4.1
BBB:8.8;AA:18.0;AAA:30.5;CCC:18.4;B:16.1;A:8.2
5.42
21.5
316
448
21.1
3.5
30
35
20
true
true
true
true
-0.29
1.07
0.17
Utilities:EW
Hedge
iTraxx_MAIN: +135bps notional
-8
8
DealerC
All2All
2
97
14
-364
Sector>limit
Rotate
Sector concentration above limit
120
Escalate watchlist names
C09345
CR9515
2025-04-05
Recovery
139
521
5.8
-0.3
1,263,278,231
RealEstate:38.0;Consumer:25.3;Energy:36.7
US:67.2;EU:12.8;APAC:6.6;EMEA:10.1;LATAM:3.3
BB:19.4;AA:36.6;BBB:32.8;A:11.2
0.78
64.2
238
399
15.4
4
25
55
25
true
true
false
true
-0.35
1.24
0.36
Utilities:EW
Hedge
iTraxx_MAIN: +92bps notional
-45
-20
ECN1
RFQ
10
86
-85
-271
HYCap>limit
Reduce
High-yield share above policy cap
233
Escalate watchlist names
C09346
CR9835
2025-06-24
Calm
92
309
3.6
2.3
2,839,820,303
Tech:29.1;Materials:9.6;Energy:38.3;Consumer:23.1
US:61.0;EU:14.2;APAC:12.6;EMEA:6.7;LATAM:5.6
CCC:14.2;BB:10.5;BBB:18.0;AA:18.0;AAA:16.5;B:22.8
4.89
26.6
168
274
5.3
3.5
30
45
25
true
true
true
false
2.35
1.77
-0.4
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-18
-11
ECN1
DealerAxed
7
89
239
-347
Sector>limit
Hedge
Sector concentration above limit
241
Rotate into defensive sectors
C09347
CR4344
2025-04-07
Stress
142
849
5.2
-0.7
1,794,595,829
Consumer:28.2;Utilities:25.0;Healthcare:46.8
US:56.7;EU:16.6;APAC:12.2;EMEA:6.2;LATAM:8.3
AAA:20.2;AA:18.1;BBB:14.3;BB:14.1;CCC:7.5;A:25.7
1.3
47.4
356
520
5
3.5
30
35
20
true
true
true
true
1.8
1.29
-0.27
Consumer:EW;Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-44
-22
DealerB
Electronic
6
100
243
111
HYCap>limit
Reduce
High-yield share above policy cap
224
Reviewed by risk; hedges staggered
C09348
CR8520
2025-02-18
Stress
178
796
6.2
-0.7
1,208,573,171
RealEstate:21.0;Materials:13.7;Consumer:10.9;Comm:24.0;Financials:5.6;Energy:24.8
US:65.7;EU:14.8;APAC:12.5;EMEA:6.1;LATAM:1.0
AA:26.6;A:20.1;BB:17.9;AAA:12.3;BBB:23.1
7.04
51.8
272
290
22.7
4
25
45
30
false
true
false
true
0.84
-0.07
0.22
null
Rotate
From Energy -1.0% to Utilities +1.0%
-26
28
DealerC
DealerAxed
6
89
-83
-233
VAR>budget
Reduce
Portfolio VAR above budget
98
Escalate watchlist names
C09349
CR8465
2024-01-22
Stress
180
561
8.2
-0.7
423,665,026
Materials:29.3;Utilities:25.9;Consumer:26.1;Industrials:18.8
US:71.7;EU:7.9;APAC:12.3;EMEA:4.1;LATAM:4.0
BB:13.0;CCC:21.0;AA:16.4;B:16.7;A:16.1;AAA:16.8
6.13
39.9
315
316
19.4
4
25
45
35
true
true
true
true
0.88
1.18
-0.24
RealEstate:EW;Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
5
-20
ECN1
All2All
10
87
227
-342
HYCap>limit
Reduce
High-yield share above policy cap
229
Defer adds pending macro print
C09350
CR8584
2025-03-19
Tightening
120
508
3.9
1.1
2,893,142,766
Industrials:10.8;Materials:11.6;Utilities:18.3;Energy:35.6;Healthcare:23.6
US:75.1;EU:5.5;APAC:10.8;EMEA:5.8;LATAM:2.8
B:19.6;AAA:32.3;A:23.2;BB:24.9
1.92
40.3
99
123
14.9
2
25
35
20
true
true
true
false
1.8
1.25
-0.11
RealEstate:EW
Hedge
iTraxx_XOVER: +122bps notional
-7
-20
DealerA
All2All
9
91
242
-37
HYCap>limit
Hedge
High-yield share above policy cap
227
Rotate into defensive sectors
C09351
CR5599
2024-11-30
Calm
118
332
4
1.6
2,436,800,411
Consumer:28.3;Utilities:29.6;RealEstate:11.9;Materials:30.2
US:67.6;EU:6.4;APAC:6.7;EMEA:11.4;LATAM:8.0
AA:25.0;BBB:12.8;BB:17.1;B:8.3;A:23.0;AAA:13.8
6.6
21.3
134
243
5
4
25
35
25
true
true
true
false
0.83
1.26
0.09
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-51
-17
DealerC
DealerAxed
2
89
-214
62
VAR>budget
Reduce
Portfolio VAR above budget
153
Rotate into defensive sectors
C09352
CR5981
2024-07-30
Recovery
139
462
5.2
1
351,613,365
Tech:33.8;Utilities:22.2;Materials:16.5;Financials:27.5
US:65.4;EU:12.6;APAC:9.2;EMEA:7.2;LATAM:5.5
AAA:20.7;A:18.0;BBB:43.3;B:18.0
3.66
35.2
84
483
2.1
3
25
55
25
true
true
false
false
0.85
1.24
-0.09
null
Rotate
From Energy -1.0% to Utilities +1.0%
-8
-4
DealerC
Electronic
0
91
-215
-418
Sector>limit
Hedge
Sector concentration above limit
232
Escalate watchlist names
C09353
CR1335
2025-01-05
Recovery
107
466
6.2
0.4
636,567,443
Energy:28.3;Healthcare:39.4;Comm:32.3
US:64.5;EU:15.7;APAC:5.5;EMEA:9.4;LATAM:4.9
CCC:10.9;B:23.2;A:10.6;BB:9.9;BBB:22.6;AAA:22.8
3.27
62.8
145
514
11.9
3.5
25
45
20
true
true
true
false
-0.12
-0.12
-0.28
Comm:EW
Hedge
iTraxx_XOVER: +95bps notional
-16
-25
DealerA
RFQ
5
95
185
0
Sector>limit
Hedge
Sector concentration above limit
161
Reviewed by risk; hedges staggered
C09354
CR1507
2025-10-12
Tightening
113
503
4.9
1.5
74,104,502
Energy:14.4;Healthcare:15.1;Tech:30.7;Financials:39.8
US:62.3;EU:17.7;APAC:14.9;EMEA:4.7;LATAM:0.4
CCC:19.9;AA:29.1;AAA:16.8;A:23.6;BBB:10.6
0.86
50.4
102
508
16.7
3.5
35
35
35
true
true
false
false
2.32
1.17
0.06
Tech:EW
Hedge
CDX_IG: +166bps notional
1
5
ECN1
All2All
5
87
395
-321
HYCap>limit
Reduce
High-yield share above policy cap
123
Tighten HY exposure bands
C09355
CR0016
2025-04-17
Calm
119
389
3.6
2.5
643,911,168
Healthcare:30.6;Financials:38.0;Consumer:31.4
US:62.2;EU:18.9;APAC:7.1;EMEA:10.6;LATAM:1.2
CCC:19.8;AA:7.7;B:14.8;A:14.8;AAA:27.2;BB:15.6
3.62
38.1
269
157
10.2
4
25
55
30
true
true
true
true
0.44
1.21
-0.35
Comm:EW
Hedge
CDX_HY: +94bps notional
9
34
ECN2
RFQ
1
100
307
-188
Region>limit
Hedge
Regional concentration above limit
214
Tighten HY exposure bands
C09356
CR4858
2024-11-23
Tightening
103
475
4.4
0.6
904,018,952
Materials:24.0;RealEstate:28.4;Healthcare:47.6
US:65.9;EU:14.8;APAC:10.5;EMEA:8.0;LATAM:0.8
AA:7.9;BBB:14.5;BB:40.3;B:15.1;AAA:22.2
0.51
46.9
139
303
12.1
3.5
35
55
20
true
true
true
false
1.21
1.45
0.04
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-42
38
ECN2
RFQ
5
90
5
45
Region>limit
Reduce
Regional concentration above limit
150
Reviewed by risk; hedges staggered
C09357
CR3041
2025-12-07
Calm
84
389
3.8
1.6
1,866,996,033
Comm:16.5;RealEstate:25.3;Tech:6.8;Utilities:25.3;Energy:8.7;Consumer:17.4
US:68.1;EU:9.8;APAC:11.4;EMEA:7.8;LATAM:3.0
B:13.3;BBB:34.6;BB:10.5;A:28.1;AA:13.4
1.95
29.1
208
229
15.9
2.5
35
35
20
false
true
true
true
1.19
-0.29
0.21
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
19
10
ECN2
All2All
0
94
326
-330
VAR>budget
Hedge
Portfolio VAR above budget
209
Escalate watchlist names
C09358
CR6543
2025-04-26
Tightening
141
409
5
1
197,547,861
Materials:36.2;Financials:34.0;RealEstate:29.8
US:65.9;EU:11.9;APAC:11.6;EMEA:6.1;LATAM:4.5
BB:16.0;A:21.8;CCC:40.1;AAA:22.1
4.96
36.9
143
305
13.7
3
25
55
35
true
true
true
false
1.27
1.02
-0.15
Comm:EW;Utilities:EW;Healthcare:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-28
7
DealerA
RFQ
12
88
-78
2
Region>limit
PauseAdds
Regional concentration above limit
180
Tighten HY exposure bands
C09359
CR9917
2025-07-10
Stress
249
582
5.8
0
2,994,503,377
Financials:9.4;Materials:29.6;Utilities:28.4;Comm:32.6
US:59.2;EU:15.3;APAC:10.4;EMEA:9.5;LATAM:5.6
BBB:14.6;AA:14.8;B:11.4;CCC:20.6;BB:20.3;A:18.3
1.18
28.4
244
563
10.2
2
35
35
25
false
true
true
true
1.2
0.89
0.14
Comm:EW
Hedge
iTraxx_MAIN: +121bps notional
-20
-10
DealerC
DealerAxed
6
96
230
-39
HYCap>limit
Reduce
High-yield share above policy cap
150
Defer adds pending macro print
C09360
CR3067
2025-04-17
Calm
118
375
3.7
1.9
374,429,209
Financials:7.1;Consumer:13.4;Materials:26.0;Utilities:26.2;Healthcare:27.1
US:65.3;EU:9.9;APAC:12.4;EMEA:11.5;LATAM:0.9
CCC:17.1;B:35.4;A:14.4;AAA:18.2;BBB:14.9
7.41
37.8
105
434
6.8
2.5
30
55
30
false
true
true
false
1.78
1.61
-0.35
Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-59
5
DealerC
DealerAxed
3
100
266
-121
VAR>budget
Hedge
Portfolio VAR above budget
201
Rotate into defensive sectors
C09361
CR5873
2024-06-28
Tightening
126
354
4.6
1.2
2,436,408,227
RealEstate:19.3;Consumer:16.6;Financials:7.9;Industrials:24.6;Utilities:24.0;Healthcare:7.5
US:65.1;EU:11.3;APAC:11.7;EMEA:6.5;LATAM:5.5
A:27.4;AAA:26.9;AA:30.1;B:15.5
5.71
55.4
203
293
5
3.5
20
35
20
true
true
false
true
1.8
-0.15
0.14
Consumer:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-45
3
ECN1
DealerAxed
8
93
188
-13
VAR>budget
Hedge
Portfolio VAR above budget
151
Defer adds pending macro print
C09362
CR1197
2025-10-03
Stress
235
704
7.7
0.6
2,481,727,809
Healthcare:18.5;RealEstate:20.7;Comm:19.9;Materials:12.2;Energy:28.7
US:73.2;EU:5.0;APAC:7.6;EMEA:6.5;LATAM:7.7
B:40.4;A:25.1;AAA:13.9;BBB:20.6
4.17
65
262
501
14.7
2.5
30
35
25
false
true
true
true
1.19
-0.11
0.55
Energy:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-10
19
DealerB
All2All
5
95
420
-351
VAR>budget
Rotate
Portfolio VAR above budget
146
Defer adds pending macro print
C09363
CR8977
2024-06-23
Tightening
115
427
4.8
0.8
992,011,721
Utilities:9.6;Consumer:12.4;Tech:28.8;RealEstate:28.6;Industrials:14.6;Materials:5.9
US:56.9;EU:10.8;APAC:13.6;EMEA:12.4;LATAM:6.3
AA:20.9;AAA:41.3;BB:24.2;B:13.6
6.48
38.8
240
392
6.8
4
35
35
35
false
true
true
true
2.05
0.73
0.05
Financials:EW;Energy:EW
Hedge
iTraxx_MAIN: +136bps notional
-47
-20
DealerC
DealerAxed
3
94
-150
118
Sector>limit
Rotate
Sector concentration above limit
229
Reviewed by risk; hedges staggered
C09364
CR5512
2025-09-15
Stress
240
692
6.4
-1.5
448,889,342
RealEstate:21.2;Tech:20.9;Materials:19.4;Energy:23.6;Industrials:14.9
US:68.5;EU:8.6;APAC:5.4;EMEA:9.9;LATAM:7.7
AA:43.0;BB:5.0;A:36.2;B:15.8
5.48
49.1
151
325
17.5
2.5
25
35
30
false
true
false
false
1.11
0.2
-0.37
Tech:EW;Consumer:EW
Hedge
CDX_HY: +157bps notional
-44
-4
DealerA
Electronic
12
99
-77
-52
Sector>limit
PauseAdds
Sector concentration above limit
259
Rotate into defensive sectors
C09365
CR8018
2024-11-28
Tightening
123
495
4.6
1
2,388,082,752
Financials:11.8;Comm:21.2;Materials:28.7;Industrials:38.3
US:63.8;EU:8.4;APAC:11.0;EMEA:9.4;LATAM:7.4
BBB:36.1;B:10.5;BB:16.3;CCC:7.9;AAA:29.2
1.62
32.6
210
197
6.2
3
25
55
25
true
true
true
true
1.49
-0.13
0.48
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
8
4
DealerC
All2All
0
96
244
-317
Region>limit
Reduce
Regional concentration above limit
189
Escalate watchlist names
C09366
CR0908
2025-09-05
Recovery
139
496
6.1
0.1
407,099,809
Financials:18.7;RealEstate:26.3;Comm:12.0;Energy:19.3;Consumer:23.7
US:67.2;EU:12.2;APAC:11.2;EMEA:5.6;LATAM:3.8
B:20.1;BBB:32.3;BB:9.4;AA:38.2
4.36
31.4
253
236
17.2
4
20
55
30
true
true
false
true
-0.08
-0.2
0.34
Industrials:EW
Hedge
CDX_HY: +155bps notional
-39
16
ECN2
DealerAxed
12
93
220
56
Region>limit
Reduce
Regional concentration above limit
236
Reviewed by risk; hedges staggered
C09367
CR9351
2024-08-24
Recovery
177
646
4.7
1.2
1,933,246,200
Energy:20.7;Healthcare:41.7;Consumer:37.6
US:59.4;EU:9.6;APAC:14.9;EMEA:11.3;LATAM:4.8
BBB:13.8;B:27.5;AA:6.4;AAA:15.0;CCC:22.4;A:14.9
2.21
49.4
115
235
16
3.5
20
55
25
true
true
true
false
2.2
1.69
-0.07
RealEstate:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-34
-19
ECN2
Electronic
9
88
-83
79
Sector>limit
Reduce
Sector concentration above limit
234
Escalate watchlist names
C09368
CR4782
2025-04-10
Tightening
146
450
4.4
0.9
526,441,375
Consumer:31.8;Healthcare:37.4;RealEstate:30.9
US:78.6;EU:6.0;APAC:10.5;EMEA:4.0;LATAM:0.9
A:15.3;BBB:14.9;BB:36.2;AAA:18.2;CCC:15.4
6.74
36.9
229
427
7
2
35
35
35
true
true
true
true
-0.15
0.06
-0.25
null
Hedge
iTraxx_MAIN: +119bps notional
-48
28
ECN1
RFQ
5
94
298
-161
Sector>limit
Hedge
Sector concentration above limit
150
Tighten HY exposure bands
C09369
CR0883
2025-01-02
Stress
181
845
6.1
-0.2
2,522,717,207
Utilities:6.9;Comm:31.6;Financials:9.3;Materials:29.4;RealEstate:10.4;Healthcare:12.3
US:74.0;EU:7.4;APAC:8.6;EMEA:6.8;LATAM:3.2
BBB:18.7;A:8.0;BB:17.8;AAA:26.8;AA:28.7
1.1
56.6
268
479
9.3
2
35
55
25
false
true
false
true
1.44
0.7
0.09
Consumer:EW
Hedge
SingleName_CDS: +96bps notional
-18
-3
ECN2
RFQ
12
86
214
-102
VAR>budget
Reduce
Portfolio VAR above budget
226
Escalate watchlist names
C09370
CR9551
2025-02-28
Stress
225
727
6.9
0.6
141,143,817
Energy:25.5;Industrials:22.8;Materials:12.8;Utilities:22.9;Consumer:16.1
US:58.9;EU:11.2;APAC:10.5;EMEA:12.1;LATAM:7.3
BBB:17.7;AA:13.0;B:9.3;CCC:25.4;A:14.6;AAA:20.1
1.28
63.9
292
587
16.6
3
25
45
30
true
true
true
true
1.19
0.86
-0.33
Industrials:EW
Hedge
Options_Payer: +162bps notional
-41
-16
DealerA
DealerAxed
1
95
171
-220
VAR>budget
PauseAdds
Portfolio VAR above budget
162
Tighten HY exposure bands
C09371
CR0856
2024-03-17
Calm
75
295
3.6
2
156,331,646
Comm:60.8;Financials:20.4;Industrials:18.8
US:67.3;EU:5.6;APAC:15.2;EMEA:6.3;LATAM:5.6
A:19.5;AA:23.0;B:38.2;BB:19.2
4.58
29.9
124
351
3.7
4
20
35
30
true
true
true
false
2.46
0.07
-0.01
Energy:EW;RealEstate:EW;Industrials:EW
Hedge
SingleName_CDS: +87bps notional
20
-13
DealerC
Electronic
3
85
207
87
Sector>limit
Hedge
Sector concentration above limit
225
Escalate watchlist names
C09372
CR5077
2024-03-06
Calm
117
309
3.4
2.6
1,819,353,168
Energy:35.3;Industrials:35.4;Financials:29.3
US:71.9;EU:5.9;APAC:7.2;EMEA:8.3;LATAM:6.6
AAA:23.5;CCC:17.1;BB:8.6;AA:22.8;A:8.7;BBB:19.2
6.23
28.2
130
157
9.5
3.5
35
45
25
true
true
true
false
1.95
-0.05
0.33
Comm:EW
Hedge
iTraxx_XOVER: +152bps notional
-19
22
DealerB
All2All
4
95
273
-132
HYCap>limit
Hedge
High-yield share above policy cap
229
Reviewed by risk; hedges staggered
C09373
CR1488
2024-05-25
Recovery
106
567
4.8
1.8
2,300,924,713
Consumer:21.6;Industrials:17.3;Healthcare:18.3;Utilities:15.0;Comm:27.8
US:61.1;EU:11.6;APAC:8.3;EMEA:14.0;LATAM:5.0
AAA:27.8;B:7.3;BB:2.5;AA:27.4;A:16.7;BBB:18.3
1.25
42.2
132
293
3.3
2.5
35
35
25
false
true
false
false
0.55
1.06
-0.09
null
Hedge
iTraxx_MAIN: +155bps notional
-6
24
DealerB
DealerAxed
5
92
190
-217
Region>limit
Rotate
Regional concentration above limit
188
Escalate watchlist names
C09374
CR1915
2025-07-17
Recovery
155
518
5
0
916,591,437
Utilities:34.7;Comm:9.8;Materials:21.0;Energy:34.5
US:67.4;EU:6.2;APAC:10.4;EMEA:9.3;LATAM:6.8
AA:26.0;B:10.9;BBB:18.4;BB:8.4;CCC:16.5;AAA:19.7
3.37
56.9
198
415
10.7
2.5
35
55
35
false
true
true
false
2.46
1.53
-0.17
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-36
12
ECN2
Electronic
7
92
252
-186
Sector>limit
Rotate
Sector concentration above limit
168
Tighten HY exposure bands
C09375
CR8710
2024-07-04
Calm
89
321
4.4
2.2
2,002,977,980
Industrials:35.1;Consumer:14.9;Comm:26.3;Materials:23.6
US:67.9;EU:12.5;APAC:8.7;EMEA:8.5;LATAM:2.4
CCC:8.2;BB:8.3;A:34.8;BBB:12.1;AA:36.6
1.54
64.4
241
313
11.4
2
30
45
35
true
true
false
true
-0.37
1.33
-0.22
null
Hedge
CDX_IG: +132bps notional
18
-18
DealerB
Electronic
12
87
417
-128
Sector>limit
Hedge
Sector concentration above limit
222
Tighten HY exposure bands
C09376
CR9791
2025-11-11
Stress
146
808
6.5
0.2
706,763,665
RealEstate:10.1;Tech:12.7;Materials:37.0;Energy:40.2
US:66.7;EU:14.9;APAC:11.1;EMEA:3.1;LATAM:4.3
CCC:10.5;BB:5.7;AAA:23.0;AA:38.7;A:13.8;B:8.3
5.02
43.6
195
288
6.2
2.5
25
55
30
true
true
false
false
0.15
0.92
0.31
null
Rotate
From Energy -1.0% to Utilities +1.0%
-37
8
DealerB
RFQ
6
97
78
-251
Region>limit
Reduce
Regional concentration above limit
209
Rotate into defensive sectors
C09377
CR2657
2024-04-19
Recovery
128
633
6.4
1.6
121,297,380
Energy:22.5;Comm:13.7;Materials:14.7;Financials:21.6;RealEstate:27.5
US:69.0;EU:15.9;APAC:5.3;EMEA:9.0;LATAM:0.8
CCC:24.1;B:9.9;BBB:15.3;A:13.4;AAA:11.2;BB:26.2
6.55
29.7
210
387
10.5
3
25
45
35
true
true
true
true
1.29
0.17
-0.01
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-18
7
DealerC
DealerAxed
2
87
244
-187
VAR>budget
Hedge
Portfolio VAR above budget
127
Escalate watchlist names
C09378
CR9578
2024-12-02
Stress
227
680
5.9
0.1
2,558,555,497
Industrials:32.2;Financials:29.0;Materials:38.8
US:70.3;EU:9.2;APAC:10.1;EMEA:9.2;LATAM:1.2
A:17.7;AA:19.1;CCC:23.2;BB:11.8;B:16.6;AAA:11.6
3.33
33
263
375
11.6
4
35
45
25
true
true
true
true
2.09
1.27
-0.34
Energy:EW;Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-58
21
ECN2
RFQ
6
96
96
-113
VAR>budget
Hedge
Portfolio VAR above budget
170
Defer adds pending macro print
C09379
CR6440
2024-10-25
Stress
155
716
6.7
-0.6
1,671,592,844
Healthcare:28.1;Financials:34.5;RealEstate:16.5;Energy:21.0
US:70.7;EU:16.3;APAC:6.5;EMEA:4.7;LATAM:1.8
AAA:32.0;B:20.4;CCC:10.4;BBB:37.2
2.03
45.2
377
452
6.7
2
20
45
30
true
true
true
true
1.52
0.31
0.2
Materials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-38
0
DealerB
RFQ
7
90
-216
-58
Region>limit
Hedge
Regional concentration above limit
203
Tighten HY exposure bands
C09380
CR6204
2024-04-11
Recovery
145
545
5.5
0.4
823,542,467
Healthcare:54.7;Consumer:27.4;Industrials:17.8
US:73.8;EU:6.3;APAC:7.2;EMEA:6.2;LATAM:6.4
BB:12.5;B:14.4;BBB:39.9;A:33.3
6.44
57.8
164
432
2.4
2
30
45
30
true
true
false
false
1.63
0.42
-0.18
Utilities:EW;Energy:EW
Hedge
Treasury_Futures: +68bps notional
-21
-20
DealerA
Electronic
6
86
289
-240
HYCap>limit
Hedge
High-yield share above policy cap
125
Defer adds pending macro print
C09381
CR7493
2024-11-26
Stress
241
817
6.8
-0.4
2,955,886,969
Healthcare:27.9;Industrials:27.7;Utilities:20.1;Materials:24.3
US:66.3;EU:12.8;APAC:5.8;EMEA:9.8;LATAM:5.3
A:19.5;BB:31.7;AA:16.2;CCC:23.3;B:9.2
4.24
42.4
200
272
5.8
3
35
45
20
false
true
true
false
-0.14
0.68
0.58
Financials:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-53
-3
DealerB
All2All
12
98
231
164
HYCap>limit
Reduce
High-yield share above policy cap
195
Defer adds pending macro print
C09382
CR0977
2025-06-19
Tightening
134
418
4.9
1
1,485,032,921
Industrials:38.7;RealEstate:23.6;Utilities:37.7
US:61.6;EU:10.5;APAC:12.7;EMEA:7.9;LATAM:7.4
AAA:25.7;BBB:29.9;CCC:12.4;A:32.0
5.52
48.8
150
327
15.7
3
25
35
30
true
true
false
false
1.33
0.68
0.21
null
Hedge
SingleName_CDS: +65bps notional
-37
0
DealerC
All2All
11
97
371
21
HYCap>limit
Rotate
High-yield share above policy cap
180
Reviewed by risk; hedges staggered
C09383
CR9653
2025-03-25
Recovery
131
548
4.7
1.7
1,447,470,800
Healthcare:14.3;Utilities:14.9;RealEstate:24.0;Industrials:16.0;Tech:17.9;Financials:12.9
US:70.9;EU:7.1;APAC:6.8;EMEA:7.0;LATAM:8.2
BBB:20.6;BB:19.2;AA:11.4;A:22.3;CCC:9.1;B:17.5
7.34
51.3
202
374
4.5
2
30
35
20
false
true
true
true
1.96
1.1
0.3
Industrials:EW
Hedge
SingleName_CDS: +103bps notional
-9
41
DealerA
RFQ
10
85
288
79
HYCap>limit
Hedge
High-yield share above policy cap
240
Tighten HY exposure bands
C09384
CR4939
2024-03-11
Tightening
102
369
5.1
1.3
671,863,151
Tech:33.8;Energy:27.0;Healthcare:15.1;Utilities:24.1
US:64.5;EU:15.4;APAC:12.4;EMEA:5.0;LATAM:2.7
BB:4.1;AAA:21.7;A:22.4;CCC:10.0;BBB:30.8;B:11.0
4.45
47.4
196
475
6.5
3
20
35
20
true
true
true
false
2.19
0.68
-0.37
Energy:EW;Materials:EW
Hedge
Options_Payer: +143bps notional
-54
-13
ECN1
All2All
11
90
52
-114
Sector>limit
Reduce
Sector concentration above limit
114
Rotate into defensive sectors
C09385
CR7733
2024-08-18
Stress
228
654
8.4
-1
2,938,052,723
Utilities:41.7;Tech:44.3;Healthcare:14.0
US:76.5;EU:8.4;APAC:5.7;EMEA:6.6;LATAM:2.8
CCC:13.0;AAA:25.4;A:13.1;AA:31.9;B:16.7
1.08
49.2
387
338
22.8
3
25
45
25
true
true
true
true
2.28
1.3
0.37
null
Rotate
From Energy -1.0% to Utilities +1.0%
-48
-25
DealerA
RFQ
11
94
357
54
HYCap>limit
Rotate
High-yield share above policy cap
213
Tighten HY exposure bands
C09386
CR7479
2024-08-08
Tightening
96
464
3.9
1.5
1,296,836,362
Tech:12.1;Utilities:19.2;Financials:25.6;Healthcare:22.6;RealEstate:20.4
US:65.8;EU:16.8;APAC:6.5;EMEA:7.7;LATAM:3.2
BBB:14.0;B:19.1;CCC:41.2;BB:9.6;AA:16.0
4.31
31.9
163
225
15.1
2
30
45
35
false
true
true
false
1.4
0.16
-0.06
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-2
0
DealerC
RFQ
7
92
345
-218
Sector>limit
Hedge
Sector concentration above limit
134
Defer adds pending macro print
C09387
CR0991
2024-05-17
Tightening
118
443
3.9
1.6
622,198,080
Healthcare:24.2;Tech:18.1;Industrials:18.9;Comm:21.8;Materials:17.0
US:68.9;EU:10.9;APAC:7.1;EMEA:9.9;LATAM:3.2
B:14.7;BB:3.4;BBB:11.4;CCC:15.7;AAA:19.9;AA:34.9
4.72
51.4
258
426
12
4
20
55
25
true
true
true
true
-0.44
0.87
-0.14
Utilities:EW
Hedge
iTraxx_XOVER: +55bps notional
-38
11
ECN1
RFQ
11
88
-31
-88
HYCap>limit
Hedge
High-yield share above policy cap
147
Rotate into defensive sectors
C09388
CR1686
2024-08-16
Tightening
96
381
4.3
1.3
634,782,082
Utilities:33.6;Consumer:22.5;Financials:19.8;Healthcare:24.1
US:70.0;EU:7.6;APAC:8.6;EMEA:10.1;LATAM:3.7
B:11.4;BB:11.0;BBB:21.5;CCC:38.4;AA:17.7
4.06
57.6
153
380
3.8
3
25
45
25
true
true
true
false
2.19
0.65
0.53
null
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-29
-19
DealerB
All2All
10
95
-130
-277
Region>limit
Reduce
Regional concentration above limit
198
Defer adds pending macro print
C09389
CR3695
2024-06-28
Stress
241
612
7
-0.9
1,741,581,842
Financials:22.4;Energy:7.1;Healthcare:18.1;Industrials:22.6;Materials:24.1;Consumer:5.6
US:61.9;EU:14.3;APAC:7.0;EMEA:10.5;LATAM:6.3
BBB:16.9;AAA:16.9;CCC:22.2;B:23.1;A:9.4;AA:11.6
5.94
26.8
158
364
17.1
2.5
35
55
25
false
true
true
false
1.44
1.59
0.4
Industrials:EW;Comm:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-31
-2
DealerC
All2All
9
85
253
-356
VAR>budget
Rotate
Portfolio VAR above budget
139
Escalate watchlist names
C09390
CR2916
2024-02-08
Tightening
139
467
5.1
1.3
2,349,017,620
RealEstate:14.8;Healthcare:21.1;Industrials:9.0;Comm:19.7;Financials:21.9;Materials:13.4
US:57.8;EU:12.7;APAC:13.7;EMEA:7.4;LATAM:8.4
AAA:21.6;BBB:12.5;CCC:8.2;BB:16.3;A:12.4;B:29.0
7.01
58
176
160
7.6
4
20
35
20
true
true
true
false
0.01
0.86
0.25
Utilities:EW
Rotate
From Energy -1.0% to Utilities +1.0%
-18
7
ECN1
DealerAxed
1
91
129
124
HYCap>limit
Reduce
High-yield share above policy cap
116
Reviewed by risk; hedges staggered
C09391
CR5926
2024-08-04
Recovery
131
550
5.5
0.1
1,477,570,385
Consumer:21.4;Energy:57.0;Financials:21.6
US:67.1;EU:17.5;APAC:5.9;EMEA:7.6;LATAM:1.8
BBB:43.6;CCC:19.9;AAA:20.8;B:15.7
3.97
41.6
130
407
14.1
2.5
20
35
25
true
true
true
false
1.42
1.59
-0.05
Industrials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-46
-10
ECN2
DealerAxed
5
90
108
-92
HYCap>limit
Hedge
High-yield share above policy cap
167
Escalate watchlist names
C09392
CR0683
2024-04-05
Stress
226
850
5.5
-0.5
1,959,904,532
Comm:16.3;Financials:32.2;Consumer:32.1;Utilities:19.3
US:66.5;EU:13.3;APAC:9.0;EMEA:9.3;LATAM:1.9
BBB:29.8;CCC:31.9;AA:11.1;BB:15.8;AAA:11.3
6.32
64.2
226
479
13.3
2.5
25
55
25
true
true
true
true
2.03
0.57
-0.32
RealEstate:EW
Hedge
Options_Payer: +146bps notional
-8
39
ECN1
All2All
1
98
45
-9
VAR>budget
Hedge
Portfolio VAR above budget
232
Tighten HY exposure bands
C09393
CR2156
2025-11-07
Recovery
126
561
4.8
0.3
1,141,358,626
Healthcare:25.3;Industrials:23.2;RealEstate:51.5
US:61.5;EU:13.5;APAC:14.6;EMEA:9.3;LATAM:1.2
BB:27.7;AA:32.0;A:21.9;BBB:18.3
6.87
63
86
295
11.3
4
30
55
20
true
true
true
false
2.21
-0.06
-0.04
Tech:EW
Hedge
iTraxx_XOVER: +192bps notional
-40
-17
DealerA
DealerAxed
7
91
308
77
Region>limit
Reduce
Regional concentration above limit
235
Rotate into defensive sectors
C09394
CR2023
2024-02-01
Stress
175
608
6.2
0.1
569,032,518
Materials:23.4;Comm:12.6;RealEstate:15.7;Energy:17.2;Industrials:31.2
US:66.4;EU:9.9;APAC:10.8;EMEA:10.5;LATAM:2.4
BB:18.4;AAA:31.7;B:4.9;BBB:20.3;AA:24.6
6.28
64.8
273
568
17
4
35
45
30
false
true
false
true
-0.49
1.56
0.19
Tech:EW;Consumer:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-2
6
ECN2
RFQ
4
95
-12
3
HYCap>limit
Hedge
High-yield share above policy cap
135
Defer adds pending macro print
C09395
CR5451
2024-12-06
Calm
102
340
4.1
1.9
2,048,943,464
Utilities:8.0;Comm:14.1;Healthcare:10.6;Materials:28.5;Industrials:29.1;RealEstate:9.7
US:62.6;EU:9.0;APAC:16.1;EMEA:4.8;LATAM:7.5
CCC:30.3;BBB:37.8;B:17.8;AA:14.1
2.51
35.5
250
458
4.6
4
35
35
30
false
true
true
true
-0.5
1.51
0.33
Energy:EW
Rotate
From Energy -1.0% to Utilities +1.0%
6
42
ECN2
Electronic
0
90
137
158
VAR>budget
Rotate
Portfolio VAR above budget
222
Defer adds pending macro print
C09396
CR0785
2024-01-27
Stress
250
621
5.7
-1.8
2,612,465,964
RealEstate:46.2;Comm:26.1;Materials:27.6
US:67.9;EU:8.5;APAC:7.0;EMEA:10.7;LATAM:5.9
BBB:22.5;BB:20.3;B:31.8;AA:9.2;CCC:6.7;A:9.5
0.58
34.6
183
286
21.7
2
20
55
20
true
true
true
false
-0.47
0.24
0.53
RealEstate:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
9
-1
DealerB
Electronic
10
89
-131
-321
Region>limit
Hedge
Regional concentration above limit
111
Escalate watchlist names
C09397
CR4478
2025-03-31
Stress
217
744
6.3
-0.7
2,824,223,512
Industrials:14.5;Comm:13.2;Healthcare:19.0;RealEstate:22.0;Tech:19.1;Consumer:12.1
US:72.5;EU:6.8;APAC:7.7;EMEA:5.9;LATAM:7.1
BB:19.8;AA:16.6;B:10.6;AAA:13.0;A:40.0
0.74
41.2
246
227
9.9
3.5
30
45
35
false
true
false
true
0.51
0.84
-0
Financials:EW
Hedge
iTraxx_XOVER: +136bps notional
-37
27
ECN1
DealerAxed
5
96
-29
-259
VAR>budget
Hedge
Portfolio VAR above budget
219
Reviewed by risk; hedges staggered
C09398
CR5599
2024-08-29
Tightening
120
429
5.1
0.8
1,435,660,296
Utilities:20.0;Energy:40.4;Comm:39.6
US:70.3;EU:6.7;APAC:11.9;EMEA:6.5;LATAM:4.6
BB:34.1;B:21.1;CCC:16.1;BBB:28.7
5.39
38.1
243
192
11.2
4
30
35
20
true
true
true
true
1.54
1.46
0.46
null
Hedge
Treasury_Futures: +165bps notional
-34
12
DealerB
Electronic
1
94
-81
-357
HYCap>limit
Rotate
High-yield share above policy cap
206
Escalate watchlist names
C09399
CR9353
2025-01-12
Calm
106
372
3.4
2.6
2,886,053,682
Materials:22.5;Energy:49.4;Financials:28.1
US:66.0;EU:10.7;APAC:6.6;EMEA:12.4;LATAM:4.2
AAA:21.1;B:18.5;BB:43.4;AA:17.1
5.03
22.3
109
147
7
3.5
30
45
30
true
true
true
false
2.08
0.09
-0.02
Materials:EW
Reduce
Cut HY -1.0%; Trim stretched sector -0.5%
-39
12
ECN2
Electronic
3
86
-127
125
Region>limit
Rotate
Regional concentration above limit
184
Reviewed by risk; hedges staggered
C09400
CR5736
2025-04-16
Tightening
134
355
3.8
1.7
495,151,490
Financials:12.1;RealEstate:26.9;Energy:35.8;Industrials:25.2
US:69.2;EU:7.1;APAC:10.9;EMEA:9.7;LATAM:3.3
B:44.2;A:18.8;AAA:12.1;BB:15.8;AA:9.0
4.08
29.8
94
260
8.4
2.5
30
45
35
true
true
true
false
1.11
1.08
0.13
null
Hedge
iTraxx_XOVER: +148bps notional
-19
26
ECN2
RFQ
6
93
-39
-122
HYCap>limit
Rotate
High-yield share above policy cap
248
Defer adds pending macro print