US IG Wrap — Tech supply surge crowns a record April for IG issuers

How some private credit investors are looking to cash in on tariff refunds

9fin | With just one week until US importers could begin seeing the refunds from the $166bn of tariffs collected illegally over the past year, some of the dollars headed back to companies that originally paid the tariffs will instead end up in the accounts of private credit firms.

Inside SMBC's expansion plans for the American ABS market

9fin | Two years ago, the Sumitomo Mitsui Banking Corporation began to quietly build up its US-based ABS team. Propelled by an expansionist economy in Japan, the banking giant bet that its history as a balance-sheet lender would facilitate the development of its US capital markets business, which it first established in 2013.

LatAm Weekly — Argentina says more deregulation is on the way

Excess Spread — Trading the MFS collapse, ERM evolution

9fin | When something goes wrong in financial markets, enterprising minds often think “how can I make some money out of this”. That’s a normal and healthy capitalist impulse, and, in many situations, that impulse makes things better.

US Private Credit Data Review Q1 26 — Starting to feel the software shock

New year, and new private credit market in the US, at least as it relates to deal count. US private credit activity hit its highest deal count in the last five quarters, according to 9fin data. Despite deal volume returning to a somewhat normal level, software exposure fell below 20% for the first time in at least the last five quarters.

How much leverage did lenders give MFS?

As the initial reports of the administrators appointed to oversee failed bridge lender Market Financial Solutions’ various funding vehicles roll in, a picture is starting to emerge of the terms that the company’s institutional lenders were prepared to offer to finance its buy-to-let and bridge lending.