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Credit market snapshot: slightly tighter as investors await news from Greece
Thursday, January 26, 2012
Credit edged slightly tighter yesterday with investors still awaiting news from Greece. Credit generally outperformed equities over the day, with European stock markets down for the day. European credit has rallied this morning, with Crossover 23 basis points tighter, Main 4bp tighter, and SovX moving in by 8bp following news that the US Federal Reserve intends to keep interest rates at "near zero" until 2014.
| 25-Jan-12 | close | change on day |
|---|---|---|
| iTraxx Main | 149.7 | -0.5 |
| iTraxx Crossover | 634.9 | -1.4 |
| CDX NA IG | 102.0 | -1.8 |
| CDX NA HY | 97.5 | +0.8 |
| SovX WE | 327.8 | -1.0 |
| All bp except CDX NA HY (pp). Source: Markit | ||
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Structured
Issuers
CFlux secondary
CLO index levels:
| Index | 20 Feb |
|
| CFlux USD AAA | ↓ | 94.9 |
| CFlux USD AA | ↑ | 86.5 |
| CFlux USD A | ↑ | 77.4 |
| CFlux USD BBB | ↑ | 74.1 |
| CFlux USD BB | ↑ |
72.7 |
| CFlux USD EQ | ↓ | 70.4 |
