Spreads are a bit tighter in the secondary market and volatility has been lower. Subsequently, activity in the primary market activity has been high. The week also brought a lot of Q1 reports from the Scandi banks but was otherwise quiet.
Due to Thursday and Friday being bank holidays in Denmark, this week’s credit strategy update is a mid-week update.
Spreads in the secondary market have tightened a bit during the week and volatility has been lower. European investment-grade credit spreads in iTraxx Europe and high yield credit spreads in iTraxx Crossover are slightly tighter this week, currently trading around 78bp and 453bp, respectively. In the short term, the market is awaiting the Fed today.
