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CREDIT UPDATE: EU Credit Close

CREDIT UPDATE
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  • 2y/10y bunds closing -5bp/-7bp at 2.09%/2.46% on weak French Feb PMI's and not helped by weak US PMI's this afternoon. Our US economists note in the US they have had "6 activity / sentiment surveys so far that were conducted in February...all showed signs of uncertainty and higher inflation, which appear to be reflecting tariffs and other government policies".
  • €IG closes +0.1bp on average.
  • SX5E/SPX futures are flat/-0.7% at 5474pts/6094pts. €IG movers include Kingspan Group PLC (+13%), Nissan Motor Co Ltd (+9%), Novo Nordisk A/S (+6%), AIA Group Ltd (+5%), FedEx Corp (-9%).
  • Main/XO ending flat at 52.3bp/284bp.
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  • 2y/10y bunds closing -5bp/-7bp at 2.09%/2.46% on weak French Feb PMI's and not helped by weak US PMI's this afternoon. Our US economists note in the US they have had "6 activity / sentiment surveys so far that were conducted in February...all showed signs of uncertainty and higher inflation, which appear to be reflecting tariffs and other government policies".
  • €IG closes +0.1bp on average.
  • SX5E/SPX futures are flat/-0.7% at 5474pts/6094pts. €IG movers include Kingspan Group PLC (+13%), Nissan Motor Co Ltd (+9%), Novo Nordisk A/S (+6%), AIA Group Ltd (+5%), FedEx Corp (-9%).
  • Main/XO ending flat at 52.3bp/284bp.