FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EUR Market Wrap

CREDIT PRE-MARKET


  • 2y/10y bunds ended Friday -1.3bp/+0.3bp after a volatile session as markets digested mixed signals from the US manufacturing PMI and ISM prints while a 1.5% rise in Brent crude failed to cap a late rally. WoW moves stand at +3.5bp/+5bp.
  • Main/XO ended -0.5bp/-3bp, underperforming CDX IG/HY by 0.4bp/2.2bp and bringing WoW widening to under 1bp for both. €IG/€HY cash ended +0.4/4.4bp with WoW moves of +3bp/8bp – Insurance looks to be the only €IG sector tighter on the week at -1bp while Tech, Transport and Consumer Services all widened by 7-8bps while +10yr spreads underperformed 1-3yr spreads by a further 3bps (or 15bps YTD).
  • SXXP ended +0.6% with Insurance underperforming at -0.7% on the Aegon miss as flagged while Real Estate and Tech both rallied by over 1.5%. Notable movers included Grifols (+18%), Daimler (+18%), ITV (+14%) and K+N (-13%) as flagged.
  • Asian equity sentiment has been mixed as HK and China markets struggled for positive traction with China's NPC in focus this week. Stoxx 50 futures are +0.4% DoD.
  • Up today we have:

GMT/Local Impact Country Event
0700/0200 * TR Turkey CPI
0730/0830 *** CH CPI
1600/1100 US Philly Fed's Pat Harker
1630/1130 * US US Treasury Auction Result for 13 Week Bill
1630/1130 * US US Treasury Auction Result for 26 Week Bill
2330/0830 ** JP Tokyo CPI
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

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.