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CREDIT UPDATE: € Credit Close

CREDIT UPDATE
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  • Long rates struggled for direction for most of the session, with the short end tighter following easing from the PBOC. Soft consumer confidence took yields slightly lower this afternoon. DBRs/USTs close -1/-0 with 2Y -6/-3.
  • Stocks opened better on the China news before fading a little. SXXP / SPX left +0.5%/+0%. €IG equities finish +0.5%. Notable movers include Anglo American +6%, Worldline +6%, Smiths Group -6%, EQT -5%.
  • €IG cash closes around 0.5bp wider. WLNFP widened 6-13bp, STLA 2-7. Insurers underperformed with primary supply coming.
  • CDS closes a touch wider with Main/XO at 59.1/316 +0.3/+3.
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  • Long rates struggled for direction for most of the session, with the short end tighter following easing from the PBOC. Soft consumer confidence took yields slightly lower this afternoon. DBRs/USTs close -1/-0 with 2Y -6/-3.
  • Stocks opened better on the China news before fading a little. SXXP / SPX left +0.5%/+0%. €IG equities finish +0.5%. Notable movers include Anglo American +6%, Worldline +6%, Smiths Group -6%, EQT -5%.
  • €IG cash closes around 0.5bp wider. WLNFP widened 6-13bp, STLA 2-7. Insurers underperformed with primary supply coming.
  • CDS closes a touch wider with Main/XO at 59.1/316 +0.3/+3.