FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CREDIT UPDATE: EUR Market Wrap

CREDIT PRE-MARKET
Credit BulletsBulletHomepagemarkets-real-timeCredit
  • Bunds closed ~1bp wider having opened tighter before grinding wider through to the afternoon on modest recoveries in crude oil and European equities alongside a pullback in Euribor futures before then moving sideways into the close. WoW move of 1-3bp tighter. Fed preview; https://media.marketnews.com/Fed_Prev_Sep2024_e931f7dc04.pdf.
  • Main/XO ended -2.1bp/-8bp at 53.5bp/289bp while €IG was -0.9bp (Corps -1bp, Fins -0.9bp) and €HY was -1bp. All IG sectors tightened on the day but widened on the week with Cyclicals the biggest mover for both at -2.2bp DoD but +6.6bp WoW. $IG was -1.8bp WoW (Corps -2.2bp, Fins -1bp) while $HY was flat.
  • SXXP ended +0.8% while SPX was +0.5% for WoW moves of +1.9%/+4%. €IG curve movers included Commerzbank +23%, Siemens Energy +23%, Warner Bros +18%, Albemarle +14%, Rentokil -19%, Worldline -15%, Neste -12%.
  • SXXP/SPX futures are flat. DM team flagged a rather subdued Asia session today, with Japan, China & South Korea on holidays. There was another assassination attempt on Donald Trump, with some betting agencies seeing a slightly bounce in his favour post the attempt.

 

170 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Bunds closed ~1bp wider having opened tighter before grinding wider through to the afternoon on modest recoveries in crude oil and European equities alongside a pullback in Euribor futures before then moving sideways into the close. WoW move of 1-3bp tighter. Fed preview; https://media.marketnews.com/Fed_Prev_Sep2024_e931f7dc04.pdf.
  • Main/XO ended -2.1bp/-8bp at 53.5bp/289bp while €IG was -0.9bp (Corps -1bp, Fins -0.9bp) and €HY was -1bp. All IG sectors tightened on the day but widened on the week with Cyclicals the biggest mover for both at -2.2bp DoD but +6.6bp WoW. $IG was -1.8bp WoW (Corps -2.2bp, Fins -1bp) while $HY was flat.
  • SXXP ended +0.8% while SPX was +0.5% for WoW moves of +1.9%/+4%. €IG curve movers included Commerzbank +23%, Siemens Energy +23%, Warner Bros +18%, Albemarle +14%, Rentokil -19%, Worldline -15%, Neste -12%.
  • SXXP/SPX futures are flat. DM team flagged a rather subdued Asia session today, with Japan, China & South Korea on holidays. There was another assassination attempt on Donald Trump, with some betting agencies seeing a slightly bounce in his favour post the attempt.