EURO CDS:1) European credit indices have seen a more
First Published Tuesday, 6th September 2011 10:30 pm - © 2011 MNI News
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EURO CDS:1) European credit indices have seen a slightly more positive session, but have only retraced a fraction of the widening that was seen yesterday. The move is more or less in line with the mild bounce seen in European stocks, which appear to be consolidating in the wake of Monday's sell off. In the underlying the picture is more mixed, with most single name benchmarks widening, especially peripheral country related benchmarks. Peripheral debt is unchanged in the main, expect for Spain and Italy where spreads managed a slight bounce of around 10bps. It has to be said though that sentiment is largely unchanged from Monday and concerns about growth and debt in the west look set to drive markets lower medium term.