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CREDIT MACRO: € Credit Close

CREDIT MACRO
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  • Bunds rallied -2.6/-2.0bp with 2y/10y yields at 2.00%/2.14%. As German regional inflation was on the low side. 
  • French OATs closed around -6bps lower, closing the gap in 10yrs to +81.5bps vs bunds following concessionary language from Finance Minister Antoine Armand around budget talks.
  • €IG closed -0.5bp tighter. ARNDTN perps were up 50c-1pt again as the gap to HEIBOS narrows. WLNFP -6bps and VW -4bps were other significant movers.
  • Main/XOVER closed -0.5bp/-3bps. European equity indices rallied with the US closed for Thanksgiving.  SXXP +0.5%; DAX +0.8% was the leading market
  • In equities, AXA and BankInter gave up 3% each. Vestas and Airbus rallied 4% with Siemens Energy, Lufthansa, Daimler Trucks and Teleperformance all up 3% or more.
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  • Bunds rallied -2.6/-2.0bp with 2y/10y yields at 2.00%/2.14%. As German regional inflation was on the low side. 
  • French OATs closed around -6bps lower, closing the gap in 10yrs to +81.5bps vs bunds following concessionary language from Finance Minister Antoine Armand around budget talks.
  • €IG closed -0.5bp tighter. ARNDTN perps were up 50c-1pt again as the gap to HEIBOS narrows. WLNFP -6bps and VW -4bps were other significant movers.
  • Main/XOVER closed -0.5bp/-3bps. European equity indices rallied with the US closed for Thanksgiving.  SXXP +0.5%; DAX +0.8% was the leading market
  • In equities, AXA and BankInter gave up 3% each. Vestas and Airbus rallied 4% with Siemens Energy, Lufthansa, Daimler Trucks and Teleperformance all up 3% or more.