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  • €IG looks skewed slightly tighter led by Thames reversal (-10-30) & continued higher beta-RE move in (Balder -5-8, HEIBOS -2-9, CPI -2-11). Wideners were higher beta consumer names Mobico 31s (+6) & VF (unch to +5) alongside Medtronic (unch to +3.5) & LVMH (unch to +4) on supply.
  • Rates moving higher on technicals, bunds end +7 in the belly dragging on YTD total returns that are holding flat. €IG equity basket ends -1.2% on broad based weakness led by RE (-1.7%), single name falls led by BMO (-7%) on earnings miss and Mobico (-6.6%) that faced a broker cut. iTraxx following the sentiment +1.5/+8.
  • $IG not giving clear direction, 5 issuers there again. Macro picks up tomorrow in the US on 2nd print of 1Q GDP/core PCE & weekly claims. Fed's preferred April PCE on Friday will be the main data for this week.
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  • €IG looks skewed slightly tighter led by Thames reversal (-10-30) & continued higher beta-RE move in (Balder -5-8, HEIBOS -2-9, CPI -2-11). Wideners were higher beta consumer names Mobico 31s (+6) & VF (unch to +5) alongside Medtronic (unch to +3.5) & LVMH (unch to +4) on supply.
  • Rates moving higher on technicals, bunds end +7 in the belly dragging on YTD total returns that are holding flat. €IG equity basket ends -1.2% on broad based weakness led by RE (-1.7%), single name falls led by BMO (-7%) on earnings miss and Mobico (-6.6%) that faced a broker cut. iTraxx following the sentiment +1.5/+8.
  • $IG not giving clear direction, 5 issuers there again. Macro picks up tomorrow in the US on 2nd print of 1Q GDP/core PCE & weekly claims. Fed's preferred April PCE on Friday will be the main data for this week.