Europe sees low trading volumes in credit derivatives following US holiday

Following another quiet week, compounded by the extended break from Wednesday for the Thanksgiving holiday, most sectors saw little or no movement in spreads. Traders anticipated further tightening in financials, except for troubled credits including Munich Re.

The world’s largest reinsurer reported a third-quarter loss of €859 million yesterday, citing the falling value of its stock holdings and the cost of summer floods in Europe. “The news was disappointing, but there was limited impact i

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