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Another month passed by and yet another positive month for risky assets across the spectrum. One would not have been at fault at presuming that, following the positive start to the year we had in the first quarter, sell-offs would take centre stage in April.April – yet another positive month for credit markets
Another month passed by and yet another positive month for risky assets across the spectrum. One would not have been at fault at presuming that, following the positive start to the year we had in the first quarter, sell-offs would take centre stage in April. And to a certain extent, April did have its fair share of bouts of heightened volatility as well as trading sessions whereby investors were swift to take profits, resulting in muted weakness. Overall, April was once again a positive month for credit and risky assets, with spreads on high yield bonds across both sides of the Atlantic tightening further. It must be said that the euphoria we had seen in the first three months of the year seemingly dissipated in April, but was nonetheless strong enough to clock in yet another positive month. No major news updates. No particular surprising economic data releases, but merely an extension of the positive sentiment bolstered in January by the ECB and US Federal Reserve. With earnings season in full swing, investors had much to scrutinise, but there were no major surprises; corporates remain in good shape, earnings robust, and more importantly, balance sheets remain healthy. US... Read more











