Weekly Commentary: A Squeeze, A Gambit, And A Z.1

S&P 500 rallied 2.9% in the quarter's final trading session, trimming Q1 losses to 4.6%. High-yield CDS tightened sharply, falling 21bps to 385bps, signaling a notable risk-on move and easing in credit stress that could support risk assets near term.

Analysis

S&P 500 rallied 2.9% in the quarter's final trading session, trimming Q1 losses to 4.6%. High-yield CDS tightened sharply, falling 21bps to 385bps, signaling a notable risk-on move and easing in credit stress that could support risk assets near term.