EFTA Document EFTA01458279

1 September 2015 Corporate Credit: Back to school - The edge of normality Starting with the EUR market we can see that while we've seen the percent rank rise across all maturities the most significant widening has come in the longer-dated bonds. As already mentioned some care is probably required here as this is still a fairly small market that has actually seen a lot of new supply this year. In the case of AAs and single-As it seems that the >1Oyr spreads have gone from being at similar