Free Trial

EUR Market Wrap

CREDIT UPDATE


  • 2y/10y bunds are -6bp/-4.5bp as we head into NFP having traded mostly sideways since 10am after this morning's raft of ECB speakers indicated a growing consensus for a June cut while some of the centrists leave an April cut on the table.
  • Main/XO are -0.3bp/1.5bp in a low vol session while FICM shows €IG/€HY at -0.6bp/+2.4bp with Energy underperforming within €IG (flat) and Sub Fins outperforming at -1bp.
  • SXXP is flat with gains of 1% in Financial Services (UBS +4% on an equity rating upgrade) set against losses of 0.5% in Tech (BE Semi -10% on reports of changing chip standards). Notable movers include Grifols (+19%) and Hellofresh (-43%).

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.