Jump-to-default risk collapses after Senate backs biggest ever US relief package

By Dan Alderson

The US Senate's agreement of a record $2 trillion stimulus package is shaking jump-to-default risk from high yield corporate credit today, with some iTraxx Crossover constituents shedding over 1,000bp from the front end of their CDS curves

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TAGS: Asia CDS Europe High yield bonds Investment grade credit Distressed debt Credit derivatives North America