Macro risk subsides but single name still harbours vol

By GlobalCapital
22 Jun 2017

A year ago this week the credit markets were digesting the shock of a ‘leave’ vote in the Brexit referendum. What followed was a period of extreme volatility and it seemed that 2017 was set for more of the same, writes Gavan Nolan.

But many of us have been proved wrong. The Markit iTraxx Europe closed at 99bp on June 27, two business days after the vote. A year later the index is trading at 55bp — its tightest level since April 2015 — and volatility has, with a few minor ...

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