The credit and derivatives world remains flat to better this morning, with the US CDS back below 40bps and the two year swaps consistently under 13bps. Large US financials’ CDS are basically flat, as are Italian and Spanish bonds
This has historically been the single worst month in equities, and superstitious sorts will note with trepidation that a film about the Fed is due to open on Friday the 13th . Yet so far, “see you in September”