Markit Recap – 11/17/2014

We’ve commented in recent weeks on volatility, but it’s been mainly a macro phenomenon. Geopolitics, Ebola and uncertainty over monetary policy have all contributed to spread oscillations.

But a little known Spanish renewable energy company provided the market with a welcome single-name credit story. Abengoa, an entrant to the Markit iTraxx Crossover index in March this year,saw it spreads widen dramatically after