CDS spreads widened late this week upon ECB’s decision to increase the haircuts on the collateral it accepts. Across asset classes, haircuts were increased for senior bank bonds and ABS, whereas covered bonds remained untouched. In the primary market we saw some corporate issuers coming to the market with a significant premium to the CDS. The ECB action and new issue premiums overshadowed positive influences from further declines in the oil price.
Weekly Credit Strategy Update
The change from ECB in its collateral framework took indices wider at the end of the week
Fri, Sep 5 2008, 10:50 GMT
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Danske Research Team
- Danske Bank A/S
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Decent macro numbers and Q4 reports drive spreads tighter
Fri, Jan 27 2012, 10:37 GMT
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Continued positive sentiment in credit markets; credit indices grinding tighter.
Fri, Jan 20 2012, 12:53 GMT
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CDS indices have performed during the week
Fri, Jan 13 2012, 16:15 GMT
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CDS indices are slightly up compared with year-end.
Fri, Jan 6 2012, 16:50 GMT
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Big LTRO allotment should be positive for credit
Fri, Dec 23 2011, 14:18 GMT
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