HY market tightens ahead of Greece decision

17 Feb 2012

While most European high yield companies are in their blackout phases, leading to a dry spell in the new issue market, the secondary market is tightening.

The Markit iTraxx Crossover had tightened 24bp to 572bp today, by 3.45pm London time, putting the index at its tightest level since February 9. Expectations that a resolution to the Greek debt crisis can be found on Monday were behind the confidence.

European finance ministers were preparing to ...

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