MNI: PBOC Net Drains CNY291.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Tues; -2.11% Y/Y

MNI China Daily Summary: Monday, December 23

MNI: China Steel Demand Seen Falling Next Year

MNI: China CFETS Yuan Index Up 0.83% In Week of Dec 20

MNI: PBOC Net Drains CNY643.5 Bln via OMO Monday

EZ/UK T-Bill Calendar: Greece to Sell Bills New Year's Eve

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI: CANADA NOV INDUSTRIAL PRICES +0.6% MOM; EX-ENERGY +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 UPDATE
BulletCredit Bullets
  • Bunds closed 1-4bp wider with 2y/10y yields at 2.11%/2.35% - after the afternoon’s ECO data tilted slightly hawkish while German budget headlines provided some support in the morning. WoW move of -6.6bp/-1.1bp.
  • Main/XO ended +1.6bp/+8bp at 56.4bp/304bp while €IG was +0.6bp at 0.99% (Corps +0.5bp at 0.94%, Fins +0.6bp at 1.06%, €HY flat at 3.23%) for a WoW move of -0.6bp (Corps +0.1bp, Fins -1.5bp, €HY -1bp). 3-10yr spreads outperformed WoW at ~-1bp while Cycs lagged at +1.4bp with Autos +1.5bp and Retailers +3bp. $IG was +0.8bp at 0.77% (Corps +0.7bp at 0.77%, Fins +1bp at 0.78%, $HY +11bp at 2.65%).
  • SXXP/SPX ended -0.8%/-1.3% at 503pts/5871pts. €IG's biggest risers/fallers included Norsk Hydro ASA (+7%), Mizuho Financial Group Inc (+7%), Generali (+5%), Lonza Group AG (-8%), Omnicom Group Inc (-8%), Warner Bros Discovery Inc (-6%).
  • SX5E/SPX futures are +0.1%/+0.3%. Overnight team flagged that It has been an uneventful day in USTs so far, ranges have been narrow, with little in the way of headlines. BoJ Governor Ueda maintained his stance that the bank will continue to raise the policy rate though he slightly downplayed an imminent hike.
  • Later the Fed’s Goolsbee speaks, and November NY Fed services and NAHB housing indices print. We also hear from the RBA's Kent. The ECB’s Lagarde, de Guindos, Lane and Buch also appear, and euro area September trade data are out. BoE’s Greene speaks.

 

 

227 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 1-4bp wider with 2y/10y yields at 2.11%/2.35% - after the afternoon’s ECO data tilted slightly hawkish while German budget headlines provided some support in the morning. WoW move of -6.6bp/-1.1bp.
  • Main/XO ended +1.6bp/+8bp at 56.4bp/304bp while €IG was +0.6bp at 0.99% (Corps +0.5bp at 0.94%, Fins +0.6bp at 1.06%, €HY flat at 3.23%) for a WoW move of -0.6bp (Corps +0.1bp, Fins -1.5bp, €HY -1bp). 3-10yr spreads outperformed WoW at ~-1bp while Cycs lagged at +1.4bp with Autos +1.5bp and Retailers +3bp. $IG was +0.8bp at 0.77% (Corps +0.7bp at 0.77%, Fins +1bp at 0.78%, $HY +11bp at 2.65%).
  • SXXP/SPX ended -0.8%/-1.3% at 503pts/5871pts. €IG's biggest risers/fallers included Norsk Hydro ASA (+7%), Mizuho Financial Group Inc (+7%), Generali (+5%), Lonza Group AG (-8%), Omnicom Group Inc (-8%), Warner Bros Discovery Inc (-6%).
  • SX5E/SPX futures are +0.1%/+0.3%. Overnight team flagged that It has been an uneventful day in USTs so far, ranges have been narrow, with little in the way of headlines. BoJ Governor Ueda maintained his stance that the bank will continue to raise the policy rate though he slightly downplayed an imminent hike.
  • Later the Fed’s Goolsbee speaks, and November NY Fed services and NAHB housing indices print. We also hear from the RBA's Kent. The ECB’s Lagarde, de Guindos, Lane and Buch also appear, and euro area September trade data are out. BoE’s Greene speaks.