The headlines will crow of the resilience of the US equity market, of the outperformance of US financials today and the better-than-expected consumer sentiment print this morning but just below the surface in both European and US credit markets, something is stirring. Investment grade credit outperformed (not exactly as reflection of the need to add risk fast), European financials (senior and sub) were significantly weaker (day and week), high yield credit notably underperformed stocks and
Read more ...
No comments:
Post a Comment