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  • Bunds are closing 5-6bp tighter with 2y/10y yields at 1.89%/2.04%. French political risk provided a safe haven bid through the session.
  • €IG closes +1bp. Reported PE interest for WLNFP saw bonds converge on par with the 29s 16 wider. ESSITY (+4-13) continues to price out a par event. NSANY 28s widened 12bp with USD and CDS pressured since Friday’s close. In FIG, French names were up to 8bp wider.
  • SXXP/SPX are +0.4%/+0.1% at 512pts/6041pts. €IG's biggest movers include Worldline SA/France (+16%), LANXESS AG (+8%), Stellantis NV (-7%), Carrefour SA (-6%). 
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  • Bunds are closing 5-6bp tighter with 2y/10y yields at 1.89%/2.04%. French political risk provided a safe haven bid through the session.
  • €IG closes +1bp. Reported PE interest for WLNFP saw bonds converge on par with the 29s 16 wider. ESSITY (+4-13) continues to price out a par event. NSANY 28s widened 12bp with USD and CDS pressured since Friday’s close. In FIG, French names were up to 8bp wider.
  • SXXP/SPX are +0.4%/+0.1% at 512pts/6041pts. €IG's biggest movers include Worldline SA/France (+16%), LANXESS AG (+8%), Stellantis NV (-7%), Carrefour SA (-6%).