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CREDIT UPDATE: € Credit Close

CREDIT UPDATE
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  • Rates traded higher in the afternoon session, with treasury selling reported and French fiscal headlines coming out. DBRs / USTs close +2/+4bp.
  • Stocks moved lower in tandem this afternoon. SXXP / SPX left -1.4%/-0.6%. €IG equities close -0.7% with Autos worst performing. Notable movers include Fedex -15%, Forvia -9%, Mercedes -7%.
  • €IG cash closes marginally tighter. VW and MBBGR widened ~10bp on the latter’s profit warning. FDX was up to 12 wider on cut guidance. VF remain weak, up to 13 wider.
  • Primary saw deals from GLJGR and NYKRE priced.
  • CDS rolled today; previous series closed +1/+3.
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  • Rates traded higher in the afternoon session, with treasury selling reported and French fiscal headlines coming out. DBRs / USTs close +2/+4bp.
  • Stocks moved lower in tandem this afternoon. SXXP / SPX left -1.4%/-0.6%. €IG equities close -0.7% with Autos worst performing. Notable movers include Fedex -15%, Forvia -9%, Mercedes -7%.
  • €IG cash closes marginally tighter. VW and MBBGR widened ~10bp on the latter’s profit warning. FDX was up to 12 wider on cut guidance. VF remain weak, up to 13 wider.
  • Primary saw deals from GLJGR and NYKRE priced.
  • CDS rolled today; previous series closed +1/+3.