Friday's Market Moves Could Have Been Worse, Says Nielsen
Shock waves reverberated through credit markets after the U.K. voted to quit the European Union. Measures of risk for corporate bonds and money markets surged. The Markit iTraxx Europe Index of credit-default swaps insuring investment-grade corporate bonds rose by the most since 2008, according to prices compiled by Bloomberg. Britain’s decision took investors by surprise after financial markets had priced in a vote to remain in the 28-nation bloc and polls showed it was too close to call. UniCredit Global Chief Economist Erik Nielsen discusses with Bloomberg's Francine Lacqua and Jonathan Ferro on "Special Report: OUT BRITAIN LEAVES."
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