Gross outstandings increased by $700 billion to $28.1 trillion, consisting of $14.6 trillion of single name notional, and index and index tranches of $13.5 trillion, versus $14.5 trillion and $12.9 trillion last week, respectively.
As we pointed out last week, the equity weakness is finally migrating to the IG/CDS world. We expect this week's derisking trend to accelerate into next (and to finally hammer the HY realm whose resiliency is about to be tested).
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUHT78PlANcYgL6FNrSAQpmmMTZ29NXaUxhcuvrRZScqPirsL74Qat-FFvoSGKjEe9REsDQkji8NtAn7zccwnn1rYTCDlD4xJIOWmcDwl0rRWnpqhhpuTeXrF-qIEedgYgGi2hNFSYobXV/s400/dtccincr227.jpg)
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