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​Autos: Week in Review

CONSUMER CYCLICALS
  • Auto spreads mostly held in a tight range (data below to yesterday’s close).
  • Much anticipated EU tariffs on China EVs were confirmed with little market impact.
  • Daimler Truck was upgraded to A- by S&P, now in line with Moodys, with little spread impact. Jaguar Land Rover was put on watch positive by S&P.
  • Motability paid roughly 20bp in NIC on their primary deal, causing secondary to widen almost 10bp.

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