Free Trial

CREDIT UPDATE: € Credit Close

CREDIT UPDATE
  • Rates were mixed, finishing tighter for choice with a late move in the US. DBRs / USTs close +0/-4 bp. Eurozone spreads were wider with OATs +4bp. 
  • European stocks underperformed with the move in periphery. SPX / SXXP left -0.0/-0.4%. €IG issuer stocks were mixed with Tech and Real Estate up, Utilities the worst performer. Notable movers include DS Smith +15%, Jefferies +7%, H&M -12%, Vestas Wind -5%.
  • €IG cash closes around flat on average, brushing off OATs move back to the wides. THAMES was 0.375-0.5pts lower.  H&M was up to 6 wider following earnings. RBOSGR recovered some of yesterday's weakness, up to 6 tighter. It was a low volatility session in Financials.
  • CDS was wider on periphery moves with Main / XO closing +0.5/+3bp.
  • Primary was quiet, with REESM and NIBC AT1 in the market; HY was busier with CMA CGM and Softbank.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.