Europe-US convergence in play as week ends on strong rally
A big push tighter in credit spreads on Friday has extended the theme of European outperformance, with iTraxx Crossover briefly trading inside US high yield index counterpart CDX HY for the first time since July

French equipment rental firm gets big lift on Q1 results
Loxam, one of the widest trading names in the iTraxx Crossover universe, is leading index constituent tighteners on Wednesday after posting first quarter results showing improvement in revenue and ebidta

Credit makes strong gains in relief rally
The week has opened on a stronger tone amid a calming of government bond yields, conducive manufacturing data in Europe and a new covid-19 vaccine approval in the US

US and European gov yield rise spooks credit market
Credit markets took a decisive shift wider on Thursday, as rising US and European government bond yields rattled investors despite the European Central Bank signalling it will take a flexible approach to bonds to prevent fiscal tightening