Wall Street Webcasting presents Wells Fargo Securities: Credit Spreads Drift Wider
NEW YORK--(BUSINESS WIRE)-- Wall Street Webcasting presents exclusive video of Rich Gordon, the highly regarded Fixed Income Market Strategist of Wells Fargo Securities (NYSE: WFC) . This week Gordon examines why credit spreads keep drifting wider and how the Cyprus bailout has affected the market.
After the news on the Cyprus bailout broke, the 10 year treasury rallied 23 basis points and corporate spreads widened. Gordon cites three reasons why the financial markets have begun to slow down over the last couple of weeks. First is the Cyprus bailout being at the forefront of the news, second is month end and quarter end technical's, and third is the Fed's meeting over quantitative easing. All three of these reasons have caused investors to move out of fixed income risk assets and into risk free assets.
To hear other reasons why the spread keeps widening, tune into Wells Fargo Securities' newest video.
Please visit the following link to view the video:
Wall Street Webcasting
Tracy Lewin, 201-683-2100
KEYWORDS: United States North America New York
The article Wall Street Webcasting presents Wells Fargo Securities: Credit Spreads Drift Wider originally appeared on Fool.com.
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