HALISTER1: Europe Credit Markets Stabilizing; Investors May Remain Cautious

Europe Credit Markets Stabilizing; Investors May Remain Cautious

(Bloomberg) -- Risk off reaction of European credit markets to U.S. election has been of far smaller magnitude than market reaction to Brexit vote; now stabilizing around the wides as focus turns to likely composition, strategy of Trump administration.
  • iTraxx Main currently 76.40 (+3.3bps, +4.5%); off earlier wide of 78.25
    • Widened 18bps (+24.8%) in wake of U.K. vote to leave EU
  • iTraxx Xover quoted 341.02 (+15.5bps, +4.75%, earlier wide 346.93); index widened +24.4% in wake of Brexit vote
  • EUR IG corporate bond index currently priced at 64.4bps OAS (+2.2bps); EUR HY index 347.0bps (+7.8bps)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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