Midday Commentary: Desks running on 'skeleton staffs' following Hurricane Sandy

By Aleesia Forni

Columbus, Ohio, Oct. 31 - The Markit CDX Series 18 North American Investment Grade index tightened 3 basis points to a spread of 98 bps early on Wednesday, following Tuesday's closed session due to Hurricane Sandy.

Desks are running on "skeleton staffs, as damage, connectivity issues and lack of mass transit" are limiting market participants, one trader said at midday.

A trader said activity was about one-third its normal pace.

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