Free Trial

EUR Market Wrap

CREDIT PRE-MARKET


  • Bunds closed 3-5bps richer against the backdrop of support from softer oil prices though loosening labour market signals from the US Jolts data saw yields edge move off intraday lows into the close.
  • Main/XO ended +1bp/+7bp, underperforming €IG/€HY at flat/+2bp with all IG sectors slightly wider. Basic Ind, Staples and Tech outperforming slightly WoW at flat vs. +1bp for the index.
  • SXXP closed flat with Real Estate +2% and Energy -3%. Notable €IG movers included National Grid +3%, Dell +3%, Siemens Energy -6%, Stan Chart -5%, Caixa Bank -5%, VF Corp -5%.
  • Regional Asian equities are mixed today, Japanese markets are lower on the back of a stronger Yen, while semiconductor names help support Taiwan & SK equities. In China & HK markets, property has sold off on very little news. Stoxx 50 futures are -0.5%. Up today:

GMT/Local

Impact

Country

Event

0645/0845

*

FR

Industrial Production

0900/1100

**

EU

PPI

0900/1000

**

UK

Gilt Outright Auction Result

1100/0700

**

US

MBA Weekly Applications Index

1215/0815

***

US

ADP Employment Report

1345/0945

***

CA

Bank of Canada Policy Decision

1400/1000

***

US

ISM Non-Manufacturing Index

1430/1030

**

US

DOE Weekly Crude Oil Stocks

1430/1030

CA

BOC Governor Press Conference

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.