Credit traders' kickstand: rolling with the pain, as relative value trades come unstuck
What a difference a month - and a pandemic - make. This time in February, no-one could have imagined a global financial crisis would be unfolding, that credit performance would be a battle between a virus and some of the biggest government and central bank interventions on record, that today's iTraxx Europe and CDX index rolls would traverse unprecedented ranges, that option expiry strikes would be blown beyond recognition, or that cash and CDS differentials would be whipsawing with such violence

Credit hits new wides as US and Europe ramp up coronavirus battle plans
An emergency weekend rate cut by the US Federal Reserve as well as population lockdowns in France and Spain underscore that measures of economic risk have moved to a more systemic level as world governments scramble to deal with the impact of the coronavirus outbreak

Credit traders’ kickstand: roll nightmares haunt CDS market as indices whiplash
It’s Friday 13^th, but CDS traders will be hoping the worst of the horror shows are behind them as they try to regather their shredded nerves in time for next week’s biannual index rolls