October 15, 2024 15:06 GMT
CREDIT UPDATE: € Credit Close
CREDIT UPDATE
- Bunds were tighter due to lower oil following a perceived de-escalation of Middle East tensions. 2y/10y yields finish at 2.21%/2.23%, -5bp.
- Stocks were slightly lower, with Europe weighed by ASML late on. SXXP / SPX are left -0.4%/-0.7%. €IG equities close +0.2%. Notable movers include Ericsson +11%, ASML -15%, SES -6%.
- €IG cash closes marginally tighter, around -0.3bp. SESFP remains pressured, up to 23 wider. COTY was up to 11 wider on weak preliminary sales numbers. Banks were firm, with RBIAV leading, up to 9 tighter.
- Primary saw deals from LOUDRE, TDFINF and ORIX.
- Main/XO close little changed at 56.0/302, +0.1/-2.
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