Secondary activity slows but spreads stay mostly unmoved
Trading activity in the secondary securitization market slowed this week as buyers and sellers went into wait-and-see mode because of volatility in credit markets. But spreads for bonds were unmoved, with traders saying a sell-off was unlikely.
“It would have to get quite a bit worse before we see anyone wanting to sell,” said one London-based ABS trader. “It feels like the credit markets have stabilised for now after a difficult start to the week.”Bankers blamed the volatility for Volkswagen having to pay a ...
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