Reality bites after credit traders abandon Brexit hedges

By Dan Alderson

Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed

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TAGS: Asia CDS Europe High yield bonds Investment grade credit JP Morgan Credit derivatives North America