02 May 2014 by HCM
Kids were on holidays around Europe last week, and that definitely played a part in the declining volumes we witnessed at the end of April. But even though they were back on Monday, and their parents back at their desks, trading activity was not any higher since the beginning of the week. Mid-week bank holidays around the globe did not really help either, but that sounds more like an excuse for the lack of conviction obvious in most part of the market than anything else. Risky assets have been rising across the board and no one complains about it, but investors do not feel completely at ease. This lack of conviction directly translated into lower volumes, which every now and then lead to burst of volatility. Until investors get a better grasp of the shape of economies around the globe, one might expect gappy price action in credit to persist.