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EUR Market Wrap

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  • Bunds were 3-4bps - holding onto most of the prior day’s gains while grinding steadily wider over the session as the market digested US continuing claims that were higher than expected but still rangebound and slightly weaker than expected US IP.
  • Main/XO were flat/-1.3bp with readings just below 51bp/290bp while €IG/€HY were -0.5bp/-6bp to bring WoW moves to broadly flat with short-end spreads outperforming and IG staples lagging slightly.
  • SXXP was -0.2% with Insurance outperforming at +1%. Notable €IG movers include in the European session included Sage -9%, BT +17%, Siemens -6%, Easyjet -6%, Inmobliaria Colonial +4%.
  • Asian equities mostly lower today ending a 5 day winning streak; tech stocks have been the biggest detractor in the region and weak Chinese data hasn't done much to help the market. Stoxx 50 futures -0.4%. Up today:

GMT/Local

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  • Bunds were 3-4bps - holding onto most of the prior day’s gains while grinding steadily wider over the session as the market digested US continuing claims that were higher than expected but still rangebound and slightly weaker than expected US IP.
  • Main/XO were flat/-1.3bp with readings just below 51bp/290bp while €IG/€HY were -0.5bp/-6bp to bring WoW moves to broadly flat with short-end spreads outperforming and IG staples lagging slightly.
  • SXXP was -0.2% with Insurance outperforming at +1%. Notable €IG movers include in the European session included Sage -9%, BT +17%, Siemens -6%, Easyjet -6%, Inmobliaria Colonial +4%.
  • Asian equities mostly lower today ending a 5 day winning streak; tech stocks have been the biggest detractor in the region and weak Chinese data hasn't done much to help the market. Stoxx 50 futures -0.4%. Up today:

GMT/Local

Keep reading...Show less