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The Week That Was

22 April 2016 by lberuti

The firm tone continued today, even though volumes were light compared with the trading frenzy that followed the ECB meeting yesterday. Credit indices traded sideways and the single names that enjoyed the most astonishing performance since the beginning of the week (namely these belonging to the basic material and energy sectors) consolidated part of their recent gains. The financial sector kept its momentum though, and with inclusion of insurance companies in the ECB’s bond buying program, it seems to be the main beneficiary of the measures announced on Thursday. It is therefore not surprising to find the darkest shades of green in the upper left corner of the above grapple.