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CREDIT UPDATE: € Credit Close

CREDIT UPDATE
BulletCredit Bullets
  • Bunds are closing +2 to -4bp with curve flattening. 2y/10y yields are at 2.01%/2.21%. German IFO came in slightly strong this morning, while comments from Lane and Kazaks were non-committal as to the size of December cuts. Potential Israel/Hezbollah ceasefire headlines helped global FI this afternoon as oil fell.
  • €IG closes marginally wider. ITVLN 32 is 18 wider following reports of takeover interest involving PE. REIT perps are performing following the HEIBOS refinancing announcement. BAMIIM is 5-15 tighter following news of an approach from Unicredit.
  • Primary saw just one deal with SNP from DNBNO.
  • SXXP/SPX futures are +0.2%/+0.4% at 509pts/6008pts. €IG's biggest risers/fallers include ITV PLC (+10%), VF Corp (+6%), Aptiv PLC (+6%), Whirlpool Corp (+6%), Commerzbank AG (-5%), UniCredit SpA (-5%), Thales SA (-4%). 
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  • Bunds are closing +2 to -4bp with curve flattening. 2y/10y yields are at 2.01%/2.21%. German IFO came in slightly strong this morning, while comments from Lane and Kazaks were non-committal as to the size of December cuts. Potential Israel/Hezbollah ceasefire headlines helped global FI this afternoon as oil fell.
  • €IG closes marginally wider. ITVLN 32 is 18 wider following reports of takeover interest involving PE. REIT perps are performing following the HEIBOS refinancing announcement. BAMIIM is 5-15 tighter following news of an approach from Unicredit.
  • Primary saw just one deal with SNP from DNBNO.
  • SXXP/SPX futures are +0.2%/+0.4% at 509pts/6008pts. €IG's biggest risers/fallers include ITV PLC (+10%), VF Corp (+6%), Aptiv PLC (+6%), Whirlpool Corp (+6%), Commerzbank AG (-5%), UniCredit SpA (-5%), Thales SA (-4%).