Europe's Credit Markets React To Brexit – $11 Trillion Of Negative YieldRupert Hargreaves
Europe's Credit Markets React To Brexit
The knee-jerk reaction to Brexit in the credit markets is similar to that as seen in the equity markets but has been exacerbated by illiquidity and rising levels of bank stress.
Bank of America credit analyst Barnaby Martin points out that since Thursday, Euro Investment Grade spreads are 14 basis points wider, Sterling Investment Grade spreads are 18 bps wider, and EUR high-yield spreads are 65 bps . . .
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