Markit Recap – 6/20/2016

The campaign for the UK to leave the European Union has lost momentum with in the lead-up to Thursday’s vote, and the credit market has been re-pricing to reflect these developments.

The UK’s five year CDS spreads, which had touched yearly wides off the back of the surging “leave” sentiment last week, have been the most directly impacted by the change in sentiment. On Thursday, spreads were 7bps tighter, still twice the