ASIA CREDIT CLOSE-Holiday mood sets in
SINGAPORE, Dec 16 (IFR) - Christmas appeared to arrive early to most trading desks, and not because Santa was distributing presents.
Traders in Singapore said that they spent the whole day without seeing a single trade. There was still the occasional enquiry, but no actual trades materialized.
There was a little bit of profit-taking in Chinese CDS as investors began to worry about what will happen with the giant next year. That spilled over to the Asia ex-Japan iTraxx IG index, which ended the day 1bp wider, quoted at 127bp-129bp.
The movement was mostly screen-jockeying with traders saying there was really nothing to write home about.
"I haven't seen a single trade, it is really the holiday season," said one trader in Singapore.
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