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EUR Market Wrap

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  • 2y/10y bunds ended -7bp/-4bp after NFP brought volatility with a decent beat, but lower revisions and softer wage growth tempered the move. WoW moves at -13bp/-15bp.
  • Main/XO tightened 0.6bp/1.6bp while €IG/€HY cash ended -0.8bp/-0.3bp. €IG/€HY saw WoW moves of -2bp/+1bp with B-rated bonds the only segment wider at +7.5bps while within €IG we saw 7-10yr spreads outperform slightly at -3bp. Energy and Utilities underperformed on a sectoral basis (flat on the week). Banco Monte Dei Paschi the only issuer on Friday.
  • SXXP ended flat on Friday with a WoW move of +1.1% with Autos/T&L falling by over 1% on the week while Utilities outperformed at over +3%.
  • HK and China equities outperforming are outperforming with gains of over 1% after Saturday's stronger than expected Chinese CPI print aided sentiment, amid signs of stronger demand. Stoxx 50 futures are -0.5%.
  • Up today we have:


GMT/Local

Impact

Country

Event

0001/0001

**

UK

KPMG/REC Jobs Report

0700/0800

***

NO

CPI Norway

0800/0900

EU

ECB's Cipollone in Eurogroup meeting

-

***

CN

Money Supply

-

***

CN

New Loans

-

***

CN

Social Financing

1530/1130

*

US

US Treasury Auction Result for 26 Week Bill

1530/1130

*

US

US Treasury Auction Result for 13 Week Bill

1700/1300

***

US

US Note 03 Year Treasury Auction Result

1700/1700

UK

BOE's Mann panellist for MonPol ebook launch

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