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New Year indigestion?

13 January 2014 by HCM

In the financial space, the big news over the week-end was the release of a new draft of the Net Stable Funding Ratio by the Basel Committee as well as announcing an easing of leverage ratio requirements. The stocks of all financial institutions benefitted from this piece of news and was up on the day. But it was a completely different story in credit where all European financial CDS were indicated wider. The intense activity in the primary market since the beginning of the year made investors take a breather. The unexpected Non Farm Payroll miss on Friday might also have played a part, as it somewhat blurred the global economic picture.