Wednesday, August 19, 2009

No worries, move along please ...

(Aug -Sept 1929 :But news of the great increases in broker's loans each week brought periodic sharp drops to the market and general apprehension...-AM)

Posted by FT Alphaville on Aug 19 17:51.

Gavan Nolan of Markit wrote this CDS report:

European credit indices widened for the sixth consecutive session today following another sharp drop in Chinese equities. The Markit iTraxx Europe was at 102.75bp, an improvement from earlier in the day but still over 2bp (2.2%) wider than yesterday’s close. The Markit iTraxx HiVol was again lagging behind at 195bp (+9.5bp, 5%), while the Markit iTraxx Crossover was at 646.5bp (11bp, 1.8%).

All three indices underperformed equities, which recovered after a sluggish start.

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