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Credit market snapshot: tighter last week as volumes pick up
Monday, January 30, 2012
Credit moved tighter last week, as large trading volumes showed the cobwebs from the first few weeks of the year had been well and truly shaken off. Despite enduring fears over the risk of sovereign default in Europe, noises from the US Federal Reserve of low interest rates for some time to come boosted market sentiment. Europe has moved sharply wider this morning, however, with Crossover 25 basis points wider, Main 6bp wider, and SovX moving out by 10bp.
| 27-Jan-12 | close | change on week |
|---|---|---|
| iTraxx Main | 141.0 | -12.2 |
| iTraxx Crossover | 604.7 | -41.7 |
| CDX NA IG | 100.4 | -5.7 |
| CDX NA HY | 97.6 | +1.3 |
| SovX WE | 323.3 | -14.1 |
| 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 |
