In a context where rising trade uncertainties have interrupted the rally in risk assets, L/S Credit strategies have been resilient in May so far, said Lyxor in its weekly brief.

Such resiliency took place despite a widening in High Yield (HY) credit spreads, by approximately +35bps both in Euro and in USD. The Lyxor L/S Credit Peer Group was down -0.2% month-to-