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CREDIT UPDATE: MNI Credit Weekly: First Cut is the Deepest (Reblast From Fri)

CREDIT UPDATE
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https://media.marketnews.com/24_09_20_MNI_Credit_Weekly_78c6785363.pdf

Executive Summary:
• A strong week for credit with the index almost 5bp tighter. Cyclicals lagged however, with concerns on Autos ongoing, while defensive sectors are better positioned at this point in the cycle.
• The FOMC was the big show in town, with the hotly debated 50bp cut coming to pass as called by MNI. The communique was a little hawkish however, taking Treasury steepeners to new YTD wides.
• Despite major central meetings primary was in-line with last week. Surveyed expectations for the week ahead are unsurprisingly higher with supportive central bank meetings behind us.
• All flavours of credit continue to see inflows, at a firm pace.

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https://media.marketnews.com/24_09_20_MNI_Credit_Weekly_78c6785363.pdf

Executive Summary:
• A strong week for credit with the index almost 5bp tighter. Cyclicals lagged however, with concerns on Autos ongoing, while defensive sectors are better positioned at this point in the cycle.
• The FOMC was the big show in town, with the hotly debated 50bp cut coming to pass as called by MNI. The communique was a little hawkish however, taking Treasury steepeners to new YTD wides.
• Despite major central meetings primary was in-line with last week. Surveyed expectations for the week ahead are unsurprisingly higher with supportive central bank meetings behind us.
• All flavours of credit continue to see inflows, at a firm pace.