European financials weather sovereign instability

Trading talk: May 2011


European bank names gained traction in credit trading last month, but not without some see-saw action for spreads. Relief following the conclusion of bank stress tests in Ireland set a strong tone at the start of the month. There was no mention of haircuts for senior bank debt when the results were released on March 31, leading to a broad relief rally.

Markit iTraxx Europe closed four basis points tighter on April 1, while news of equity raisings by Italian banks and Germany’s Commerzbank also b

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: