December rounded out what has been a volatile 6 months for markets in general, with credit markets being no exception

December rounded out what has been a volatile 6 months for markets in general, with credit markets being no exception. Credit spreads were on balance a bit stronger during the month, however there were still notable price fluctuations across most sectors, with both the global and domestic economic backdrop continuing to provide mixed signals. Noise surrounding Chinese growth, Greek politics, US rate rises and the Australian macro all muddied the waters somewhat and contributed to the volatility.