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Under the Sombrero

25 August 2016 by pdonnat

Investors are still awake and are keeping an eye open. Tomorrow, Janet Yellen will deliver a speech at the Jackson Hole Economic Symposium. The central bankers will hear contributions on “Designing Resilient Monetary Policy Frameworks for the Future". The topic is interesting as the central bankers have chosen over the past years the path of innovative monetary policies. The pursuit of innovation and resilience is possible but at a cost of trials and errors. There could be some interesting academic contributions, hopefully enough to keep investors awake. As the attached grapple shows, a lot of single name CDS have hardly moved today. In Europe, only some high yield names are tightening with comforting earnings while in the US some energy names are weaker with oil price consolidation.