Gavekal Capital: A Tick Back Up in European CDS

Tuesday, July 8, 2014

A Tick Back Up in European CDS

Credit default swaps (CDS)-- the insurance against non-payment for fixed income products-- have fallen across Europe since reaching highs in 2012:

After the ECB's early June announcement of extraordinary measures, CDS fell abruptly-- but yields have creeped back towards pre-announcement levels in the last couple of weeks (especially in Portugal):

About Gavekal Capital

Gavekal Capital is a US registered investment advisory firm that manages the Gavekal Knowledge Leaders Strategy. Knowledge Leaders are a group of the world’s leading innovators with deep reservoirs of intangible capital. These companies often possess competitive advantages such as strong brand, proprietary knowledge or a unique distribution mechanism. Knowledge Leaders are largely service-based and advanced manufacturing businesses, often operating globally. Gavekal Capital seeks to identify the world’s leading knowledge companies through a proprietary process that analyzes corporate knowledge investments.
We offer the Gavekal Knowledge Leaders Strategy in multiple products for global investors. For more information about our product offerings please visit http://www.gavekalcapital.com.
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