Oct 5, 2010
6:00:00 PM
| Last Updated
While improving the past month, credit spreads have been sticky, remaining at elevated levels closer to JSne highs than their April lows. U.S. credit spreads (+175bp IG, +620bp HY) are flat on the year and European corporates are substantially wider (+185bp for IG, down from a high of +240bp). Global equities surged 9% in September, boosted by earnings, stimulus, buybacks, and M&A and are showing modest gains YTD. Emerging Market equities, currencies, and Commodities are close to their YTD and 12-month highs. What gives?
In this Cross Asset Monthly, we look into positive and negative[...]
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