Free Trial

EUR Market Wrap

CREDIT PRE-MARKET


  • Bunds closed 4-7bp wider with most of the move coming in line with USTs after lower-than-expected weekly claims. WoW move at close to +15bp out to 10yr.
  • Main/XO ended +0.5/1bp to bring the WoW moves to essentially flat €IG/€HY was -1bp/-6bp to give WoW moves of -3bp/-16bp with short-dated IG spreads outperforming by 4bp on the week and Energy/Fins tighter by 5bp.
  • SXXP closed -0.3%. Notable €IG movers in the European session included Siemens +4%, National Grid -11%, Orlen SA -8%, Mobico -8%.
  • Asian equities are lower with the ASX, Nikkei and Hang Seng all over 1% lower with Hong Kong continuing a four day losing streak HK markets have continued their four day losing streak as US rate cut expectations are pushed back while also facing property sector concerns. Stoxx 50 futures are -0.5%. Up today:

GMT/Local

Keep reading...Show less
217 words

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.


  • Bunds closed 4-7bp wider with most of the move coming in line with USTs after lower-than-expected weekly claims. WoW move at close to +15bp out to 10yr.
  • Main/XO ended +0.5/1bp to bring the WoW moves to essentially flat €IG/€HY was -1bp/-6bp to give WoW moves of -3bp/-16bp with short-dated IG spreads outperforming by 4bp on the week and Energy/Fins tighter by 5bp.
  • SXXP closed -0.3%. Notable €IG movers in the European session included Siemens +4%, National Grid -11%, Orlen SA -8%, Mobico -8%.
  • Asian equities are lower with the ASX, Nikkei and Hang Seng all over 1% lower with Hong Kong continuing a four day losing streak HK markets have continued their four day losing streak as US rate cut expectations are pushed back while also facing property sector concerns. Stoxx 50 futures are -0.5%. Up today:

GMT/Local

Keep reading...Show less