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Cheap Views; Consumer & Transport

CONSUMER STAPLES

BVAL mid's snapped at 2:30pm Friday for bonds while Thursday close level for indices. Change since last Friday, all quoted in spreads vs. swaps ex. sterling bonds in spread over UKTs.


Additions (with notes linked)


Removals (with notes linked)

Indices:

  • €IG (-1) to +79
  • £IG (-2) to UKT+124
  • €BBB (-2.5) to +107
  • €BB (-2) to +182
0-3y
  • WBA (£) 25s (+4) at UKT+142 (removed)
  • ISS Global 26s (-3) at Z+55
3-5y
  • IDSLN 28s (-2) at Z+151
  • Pluxee 28s (-2) at Z+81
  • Woolworths 28s (-1) at Z+91
  • Coty 28s unch at OAS+85 (eff. duration 1.8Y)
  • Finnair 29s (-5) at Z+220
  • Elo/Auchan new 5.875% 28s (+14) at Z+339 (removed)
  • PVH 29s (-2) at Z+130
  • Barry Callebaut 29s (-2) at Z+102
5y+
  • Haleon 30s (-10) at Z +73
  • PostNL 31s (+1) at Z+181 (removed)
  • Tesco 31s (+2) at Z+103
  • BAT 32s (-2) at Z+156
  • Tesco (£) 34s (-3) at UKT+130

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