Markit Recap – 7/11/2016
In the heady days of 2004-2007, before the Great Moderation came to a shuddering halt, it seemed set in stone that European investment grade CDS traded tighter than their North American counterparts. In May 2007, the Markit iTraxx Europe was trading at 20bps and the Markit CDX.NA.IG was quoted 15bps wider at 35bps. This 15bps…