Free Trial

EU Credit Close

CREDIT MACRO

• Bund yields close ~4bp higher, trading in a tight range since opening lower on hawkish Fed cut repricing and strong Germany IP.

• Stocks trended higher over the session with SXXP / SPX +0.4%/+0.2%.

• IG Cash closing 1-2 tighter, HY ~4bp tighter. Cash remains generally supported with a limited supply today mainly coming in sub financials. High beta REITs and CRE exposed banks performed strongest, while THAMES moved another 10-30 wider with a SAR scenario increasingly in probability.

• Primary brought Tier2 deals from ACAFP and CMZB, both well received with minimal NIP.

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.