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UniCredit recommends autos convergence trade
Monday, June 8, 2009
In latest research UniCredit recommends a convergence trade on French auto firms Renault and Peugeot. Analysts believe that the spread differential of Renault and Peugeot is exaggerated, and hence recommend selling five-year protection on Renault at 350 basis points and buying five-year protection on Peugeot at 285bp.
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CFlux secondary
CLO index levels:
| Index | 6 Feb |
|
| CFlux USD AAA | ↑ | 94.9 |
| CFlux USD AA | ↓ | 81.3 |
| CFlux USD A | ↓ | 75.0 |
| CFlux USD BBB | ↑ | 74.8 |
| CFlux USD BB | ↑ |
72.1 |
| CFlux USD EQ | ↑ | 67.6 |
