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CREDIT UPDATE
  • Little change into the close; €IG cash still skewed firmly wider including double digit sell-offs from RBIAV & EQIX. Kering € & £ holding onto wides (+5-10bps) with some carryover to LVMH (+1-3) & Burberry £25's (+2.5). £IG cash is skewed wider now as well.
  • US equities & rates is flat ahead of the Fed tonight while no supply in $IG failing to giving support for spreads that have moved firmly wider.
  • An uneventful first session for new series iTraxx IG/HY (+55.5/+293bps) and CDX IG (+53.2) indices.

Single name notes: AFFP CAR COTY EDF ETEGA ETLFP EQIX FERSM HTHROW KBCBB KERFP LHAGR LONNVX LVMH PROGRP PROXBB RBIAV ROSW RYAID SFRFP TITIM TRAGR TRNIM

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