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CREDIT UPDATE: € Credit Close

CREDIT UPDATE
BulletCredit Bullets
  • Bunds close 4-5bp wider with 2y/10y yields at 2.24%/2.25%. We note Fed speakers after our close which may bring some overnight volatility.
  • Stocks are mixed with SXXP/SPX are +0.2%/-0.3%. €IG equities are +0.3%. Biggest risers/fallers include Air Products and Chemicals Inc (+7%), Mizuho Financial Group Inc (+5%), Kering SA (+5%), Sumitomo Kojamo Oyj (-7%), SCOR SE (-5%).
  • €IG cash had a firm session closing around 2bp tighter. MTXGR and ALIVP were both double digits tighter; PBBGR was up to 27bp tighter. Several Real Estate names close significantly tighter also.
  • Primary was sidelined in €IG today.
  • Main/XO are closing -0.5bp/flat at 57.9bp/312bp.
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  • Bunds close 4-5bp wider with 2y/10y yields at 2.24%/2.25%. We note Fed speakers after our close which may bring some overnight volatility.
  • Stocks are mixed with SXXP/SPX are +0.2%/-0.3%. €IG equities are +0.3%. Biggest risers/fallers include Air Products and Chemicals Inc (+7%), Mizuho Financial Group Inc (+5%), Kering SA (+5%), Sumitomo Kojamo Oyj (-7%), SCOR SE (-5%).
  • €IG cash had a firm session closing around 2bp tighter. MTXGR and ALIVP were both double digits tighter; PBBGR was up to 27bp tighter. Several Real Estate names close significantly tighter also.
  • Primary was sidelined in €IG today.
  • Main/XO are closing -0.5bp/flat at 57.9bp/312bp.