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Credit market snapshot: tighter on Greek debt swap talk
Wednesday, February 1, 2012
Credit edged slightly tighter yesterday, although SovX bucked the trend and went wider as bearish sentiment continued to zone in on the sovereign space. Noise from the Greek debt talks of a possible deal involving debt swaps appear to have been positively received by the markets for now, with Europe opening tighter across the board this morning. Crossover is 15 basis points tighter, Main 3bp tighter, and SovX has more than recovered its losses from yesterday by moving in by 9bp.
| 31-Jan-12 | close | change on day |
|---|---|---|
| iTraxx Main | 143.7 | -3.1 |
| iTraxx Crossover | 621.4 | -11.7 |
| CDX NA IG | 101.3 | -1.3 |
| CDX NA HY | 97.3 | +0.1 |
| SovX WE | 339.1 | +3.4 |
| All bp except CDX NA HY (pp). Source: Markit | ||
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Trading
Structured
CFlux secondary
CLO index levels:
| Index | 14 May |
|
| CFlux USD AAA | ↑ | 96.0 |
| CFlux USD AA | ↑ |
87.7 |
| CFlux USD A | ↑ | 85.1 |
| CFlux USD BBB | ↓ | 77.2 |
| CFlux USD BB | ↑ |
75.9 |
| CFlux USD EQ | ↓ | 76.7 |
