08 August 2014 by HCM
The US credit market managed quiet well the geopolitical concerns over the last week. The US high yield market lead the weakness by the end of July. But this week, the US spreads have stabilized and the European market kept trading wider. Opening the grapple of the CDS performance and changing the time frame to “YTD”, we can observe that the US market is still underperforming the European market since the beginning of the year but the gap has narrowed substantially this week, European Xover names are in average 25bps wider while the US High Names are 3bps tighter.