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CREDIT UPDATE: € Credit Close

CREDIT UPDATE
BulletCredit Bullets
  • Bunds are closing +2 to -1bp with 2y/10y yields at 2.04%/2.2%. Rates volatility was limited despite tariff headlines overnight.
  • €IG closes +1bp. ALB was +10 following the S&P downgrade to BBB- with outlook still negative. WHR was 6-7 wider on the Moody’s downgrade, also still negative outlook.
  • SXXP/SPX are -0.5%/+0.3% at 506pts/6003pts. €IG's biggest risers/fallers include Eli Lilly & Co (+5%), Worldline SA/France (+4%), Amgen Inc (-11%), General Motors Co (-8%), Aliaxis SA (-7%), Daimler Truck Holding AG (-5%).
  • In primary, we had just HEIBOS perpNC5.25 priced.
  • Main/XO close +0.5bp/+1bp at 57.9bp/309bp.
    {ITRX EUR CDSI GEN 5Y Corp}
    {ITRX XOVER CDSI GEN 5Y Corp}
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  • Bunds are closing +2 to -1bp with 2y/10y yields at 2.04%/2.2%. Rates volatility was limited despite tariff headlines overnight.
  • €IG closes +1bp. ALB was +10 following the S&P downgrade to BBB- with outlook still negative. WHR was 6-7 wider on the Moody’s downgrade, also still negative outlook.
  • SXXP/SPX are -0.5%/+0.3% at 506pts/6003pts. €IG's biggest risers/fallers include Eli Lilly & Co (+5%), Worldline SA/France (+4%), Amgen Inc (-11%), General Motors Co (-8%), Aliaxis SA (-7%), Daimler Truck Holding AG (-5%).
  • In primary, we had just HEIBOS perpNC5.25 priced.
  • Main/XO close +0.5bp/+1bp at 57.9bp/309bp.
    {ITRX EUR CDSI GEN 5Y Corp}
    {ITRX XOVER CDSI GEN 5Y Corp}