12 September 2014 by lberuti
When a 1bp move seems disproportionately important compared to the average sector move, that says it all. The session has been relatively quiet across the board, and the fair value of iTraxx Main was unchanged (-0.02bps) on the day. The worst performing credits were to be found in the mining and metal sector, with AALLN ( Anglo American Plc) and GLEINT ( Glencore Plc) under pressure on the back of the recent weakness in the commodities. But their moves were limited to 5bps. Investors have been busier squaring positions on indices, in anticipation of next week, which will be rich in events that have the potential to rock the market. Investors have been better buyers of protection over the last few sessions, and all eyes will be on the FOMC and then on the Scottish referendum.