Tranche traders aim to navigate default risk while staying clear of coronavirus contagion

By Dan Alderson

Thursday, March 05, 2020

The CDS market is navigating between two sources of risk for equity and mezzanine high yield index tranches. The default of US media company McClatchy has focused idiosyncratic concerns, while the spread of the coronavirus has stoked fears of a systemic sell-off.

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TAGS: Europe High yield bonds Investment grade credit Secondary market Distressed debt Pricing North America Synthetic/SRT

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