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EUR Market Wrap

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  • Bunds closed 2-3bps tighter with our DM flagging early in the session that the supply burden has seemingly been offset by the pullback in oil prices while Fed speakers failed to move the needle too much.
  • Main/XO closed flat/+1bp while €IG ended flat/-8bp with Fins the only IG sector much tighter at -1bp and Energy lagging at +0.5bp. Relatively quiet day for supply though we saw strong mandate flow.
  • SXXP was flat with Health and Basic Resources outperforming slightly. €IG movers in the European session included Carmila +3%, Norstar Holdings -5%, Lonza Group -4%.
  • Asian equities mixed but broadly lower with a broader BBG index and the Nikkei both -0.8% as JGBs tick cheaper, yen ticks lower and investors await Nvidia earnings. Stoxx 50 futures are flat. Up today:

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  • Bunds closed 2-3bps tighter with our DM flagging early in the session that the supply burden has seemingly been offset by the pullback in oil prices while Fed speakers failed to move the needle too much.
  • Main/XO closed flat/+1bp while €IG ended flat/-8bp with Fins the only IG sector much tighter at -1bp and Energy lagging at +0.5bp. Relatively quiet day for supply though we saw strong mandate flow.
  • SXXP was flat with Health and Basic Resources outperforming slightly. €IG movers in the European session included Carmila +3%, Norstar Holdings -5%, Lonza Group -4%.
  • Asian equities mixed but broadly lower with a broader BBG index and the Nikkei both -0.8% as JGBs tick cheaper, yen ticks lower and investors await Nvidia earnings. Stoxx 50 futures are flat. Up today:

Date

Keep reading...Show less