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Credit market snapshot: rally continues amid thin trading
Tuesday, October 11, 2011
Credit spreads in Europe and Asia continued to rally strongly yesterday. With the US credit market closed, volumes were light across most credit products. European financials tightened relatively more than sovereigns. High yield credit also outperformed, with the iTraxx Crossover index touching a low of 766 – a level it has not seen for more than three weeks. The rally is continuing tentatively in Europe this morning.
| 10-Oct-11 | close | change on day |
|---|---|---|
| iTraxx Main | 178.2 | -10.6 |
| iTraxx Crossover | 769.7 | -40.6 |
| CDX NA IG | - | |
| CDX NA HY | - |
|
| SovX WE | 322.4 | -8.5 |
| All bp except CDX NA HY (pp). Source: Markit | ||
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Structured
Issuers
CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
