Soc Gen: bank bond spreads have ‘lagged the rally’

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Soc Gen: bank bond spreads have ‘lagged the rally’

Tyler Davies
August 19, 2020 01:00 PM
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Moody's ratings agency said Wednesday Sept. 14, 2011, it had downgraded by one notch top French banks Societe Generale and Credit Agricole while leaving BNP Paribas on negative watch. Credit Agricole's rating slid from Aa1 to Aa2 while Societe Generale was cut from Aa2 to Aa3. Shares in all three banks have plummeted in recent weeks on exposure to Greek sovereign debt and turbulence caused by the eurozone debt crisis. File picture : French bank Societe Generale headquarter building in the business district of La Defense near Paris, France on February 18 2009. Photo by Etienne de Malglaive/ABACAPRESS.COM | de Malglaive Etienne/ABACA/PA Images

Analysts at Société Générale say that bank credit spreads have plenty of room left to tighten in 2020, especially as supply volumes fall in the second half of the year.

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