Free Trial

EUR Market Wrap

CREDIT UPDATE


  • 2y/10y bunds are streaming 2bp/1.5bp wider – our DM team have noted little in the way of notable headline flow this morning, with Spanish PPI the only scheduled data release which was unsurprisingly not a market mover.
  • Main/XO are +0.5bp/3.5bp in early trading, having opened wider and moved broadly sideways. IFCM showing €IG/€HY at -0.7bp/-1.6bp with all €IG sectors in the green and Fins outperforming at -1bp and Tech/Energy underperforming at -0.4bp.
  • SXXP is +0.1% with Energy and Basic Resources selling off by 1.2% and 1.5% respectively while Financial Services and T&L rally by 1.1% and 0.8%. SPX futures are flat DoD.
  • Tele2 ({TEL2B SS Equity}) seems to be holding onto gains with analysts focusing on the removal of a potential Kinnevik sale as a strategic overhang. The two Irish banks AIB ({AIBG ID Equity}) and Bank of Ireland ({BIRG ID Equity}) are the worst performing SXXP members post-BOI’s results.

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.