06 December 2013 by HCM
JCP (J.C. Penney Co.) spread is again today wider by 100bps on SEC Inquiry into it Finances. This credit story is one of the few ongoing weak credit story development in the US. The CDS activity is soaring with around 150MUSD per day since September, around 5% of the 2.6BUSD outstanding bond issuance. The company fate depends on the next shopping season, the market is sceptical.