Mixed bag of FRNs, HY swissies and buybacks amid the caution

October 12, 2011 12:00 AM

Synthetic indices are holding up and the high yield secondary market opened only a touch softer on Wednesday, despite Slovakia’s "no" vote on the expansion of the EFSF. The Markit iTraxx Europe only widened 0.3bp on Tuesday’s close to 179.3/180.3, while the Crossover even tightened 4.5bp to 767bp at around 10am London time.

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