iTraxx Main prints tightest since Feb on low supply

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By Mike Turner
22 Jul 2020

European high grade non-financial credit spreads dipped to their lowest levels in around five months this week, though corporate bond bankers said it is the lack of primary bond market activity rather than the breakthrough in EU fiscal stimulus that has ground spreads tighter.

Markit’s iTraxx Europe Main was trading at 57bp on Tuesday, a level last seen on February 27. The Crossover was at 341bp at the same time, though it was this low in early June too.

The Main’s low print comes after the index shot as high as 136bp as ...

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