Credit Default Swap Indices Get Hammered By Coronavirus

Its the same all over the world. Credit Default Swap Index (CDX) across Markit indices are all declining (except for Emerging Markets).

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Unfortunately, the S&P 500 index and CDX are behaving like a grizzly bear.

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The CDX IG curve is updward sloping while the CDX HY curve is flattish.

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Markets are hoping for more sugar from their sugar babe, Jerome Powell.

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