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Scandi High Yield Weekly - 17 June, 2015

Published 06/17/2015, 03:08 AM
Updated 05/14/2017, 06:45 AM

The iTraxx Crossover index stands at 328bp, some 13bp wider than a week ago. Spreads in the illiquid Nordic HY cash market widened by around 11bp over the week

Possible Greek default/Grexit is currently the overwhelming risk spooking the highly illiquid European credit markets. It looks like a high stakes end game (in usual European last-minute style) is to be played out during the remainder of June/beginning of July. Hold on to your hat, the spread volatility could increase dramatically over the summer if no viable restructuring solution is agreed.

We saw Corem and Sagax print new SEK deals in the Nordic HY market during the last wee.

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