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EUR Market Wrap

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  • 2y/10y bunds closed -5bp/-4bp richer after Dovish comments from ECB’s Lane and Villeroy allowed EGBs to rally.
  • €IG/€HY closed +1bp/+4bp with short-dated IG spreads underperforming by just over 1bp and all sectors wider with Energy the worst performer at +2bp. Fins are the only sector tighter WoW at -2bp vs. -1bp for the broader index.
  • SXXP closed +0.3% with Energy and Utils +1% while Health lagged at flat. €IG movers included Worldline +7%, Alstom +6%, Vestas Wind +5%.
  • Asian equities are broadly flat but mixed with CSI 300 -0.4% while Stoxx 50 futures are +0.2%. Up today:

GMT/Local

Impact

Country

Event

0800/1000

**

EU

ECB Consumer Expectations Survey

1000/1100

**

UK

CBI Distributive Trades

1230/0830

*

CA

Industrial Product and Raw Material Price Index

1300/0900

**

US

S&P Case-Shiller Home Price Index

1300/0900

**

US

FHFA Home Price Index

1300/0900

**

US

FHFA Home Price Index

1300/0900

**

US

FHFA Quarterly Price Index

1300/0900

**

US

FHFA Quarterly Price Index

1355/0955

US

Minneapolis Fed's Neel Kashkari

1400/1000

***

US

Conference Board Consumer Confidence

1400/1000

*

US

US Treasury Auction Result for 26 Week Bill

1400/1000

*

US

US Treasury Auction Result for 13 Week Bill

1430/1030

**

US

Dallas Fed manufacturing survey

1530/1130

*

US

US Treasury Auction Result for 2 Year Note

1530/1130

*

US

US Treasury Auction Result for Cash Management Bill

1700/1300

*

US

US Treasury Auction Result for 5 Year Note

1700/1300

US

San Francisco Fed's Mary Daly

1705/1305

US

Fed Governor Lisa Cook

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