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CREDIT PRE-MARKET: EUR Market Wrap

CREDIT PRE-MARKET
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  • 2y/10y bunds closed +2bp/+3bp at 2.26%/2.56% with yields closing near intraday lowest levels amidst a recovery in risk sentiment following the DeepSeek induced selloff. USTs closed flat at 4.2%/4.53%.
  • Main/XO ended -0.6bp/-3bp at 53.9bp/292bp while €IG was -1.4bp at 0.94% (Corps -1.2bp at 0.89%, Fins -1.7bp at 0.99%, €HY -4bp at 2.97%). $IG was +0.1bp at 0.78% (Corps +0.1bp at 0.78%, Fins flat at 0.79%, $HY +1.1bp at 2.64%).
  • SX5E/SPX futures closed +0.3%/+0.8% at 5216pts/6097pts. €IG movers included Sartorius AG (+12%), Siemens Energy AG (+8%), General Motors Co (-9%), Goodman Group (-8%), Schneider Electric SE (-7%).
  • SX5E/SPX futures are +0.8%/+0.2% this morning. Overnight team flagged a quiet session so far for USTs, futures are all trading higher however ranges have been narrow. Most Asian markets have been shut for LNY.  
  • The Fed is expected to leave rates unchanged today. The BoC is forecast to cut rates 25bp to 3%. December US trade and inventories, estimated Q4 Spanish GDP and December euro area M3 also print. 

 

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  • 2y/10y bunds closed +2bp/+3bp at 2.26%/2.56% with yields closing near intraday lowest levels amidst a recovery in risk sentiment following the DeepSeek induced selloff. USTs closed flat at 4.2%/4.53%.
  • Main/XO ended -0.6bp/-3bp at 53.9bp/292bp while €IG was -1.4bp at 0.94% (Corps -1.2bp at 0.89%, Fins -1.7bp at 0.99%, €HY -4bp at 2.97%). $IG was +0.1bp at 0.78% (Corps +0.1bp at 0.78%, Fins flat at 0.79%, $HY +1.1bp at 2.64%).
  • SX5E/SPX futures closed +0.3%/+0.8% at 5216pts/6097pts. €IG movers included Sartorius AG (+12%), Siemens Energy AG (+8%), General Motors Co (-9%), Goodman Group (-8%), Schneider Electric SE (-7%).
  • SX5E/SPX futures are +0.8%/+0.2% this morning. Overnight team flagged a quiet session so far for USTs, futures are all trading higher however ranges have been narrow. Most Asian markets have been shut for LNY.  
  • The Fed is expected to leave rates unchanged today. The BoC is forecast to cut rates 25bp to 3%. December US trade and inventories, estimated Q4 Spanish GDP and December euro area M3 also print. 

 

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