• EGBs: ended yesterday marginally tighter with a down-shift in the US Treasury curve happening just before the European close. DBRs were 2-3bp tighter and the US curve actually traded back up overnight but are rangebound ahead of PCE data later today.
  • Cash credit: €IG was around 1bp tighter, with HY going the other way (+3bp). IG was led by healthcare and materials with financials more muted. HY financials were the weakest but largely on the Intrum move.
  • CDS: CDX IG closed marginally tighter vs. with European close with a similar recovery in HY. Main/XO were marginally wider across yesterday (+0.5bp/+3bp).
  • Equities: Asian markets were marginally better overnight but SPX was broadly flat. SXXP ended yesterday -0.4% with consumer stapes and cyclicals weaker. SXXP futures are indicated a better European open. 

CREDIT PRE-MARKET: European Credit Pre-Market Wrap

Last updated at:Jun-28 06:04By: Alex Potter
  • EGBs: ended yesterday marginally tighter with a down-shift in the US Treasury curve happening just before the European close. DBRs were 2-3bp tighter and the US curve actually traded back up overnight but are rangebound ahead of PCE data later today.
  • Cash credit: €IG was around 1bp tighter, with HY going the other way (+3bp). IG was led by healthcare and materials with financials more muted. HY financials were the weakest but largely on the Intrum move.
  • CDS: CDX IG closed marginally tighter vs. with European close with a similar recovery in HY. Main/XO were marginally wider across yesterday (+0.5bp/+3bp).
  • Equities: Asian markets were marginally better overnight but SPX was broadly flat. SXXP ended yesterday -0.4% with consumer stapes and cyclicals weaker. SXXP futures are indicated a better European open. 

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