Why Oil at $50 is 'Good News' for Credit Markets
Brent crude held its gains near $50 a barrel as investors shrugged off OPEC’s decision to stick to its policy of unfettered output amid signs the global market is re-balancing. Futures were little changed in London after closing above $50 for the first time in almost seven months. While members of the Organization of Petroleum Exporting Countries rejected a proposal to adopt a new production ceiling, ministers were united in their optimistic outlook for markets. JP Morgan Asset Management International CIO of Fixed Income Nicholas Gartside discusses with "On the Move" host Caroline Hyde.