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EUR Market Wrap

CREDIT UPDATE


  • Bunds are 4-5bp tighter having recovered somewhat from yesterday’s lows against a quiet macro calendar and news flow. Lower oil prices may be providing some light support.
  • Main/XO are -0.6bp/-2bp at 55.1bp/300bp while €IG/€HY looks -1bp/+2bp. IG movers include Bayer (up to~20bp tighter), Ford (up to 6bps tighter), Unicaja (up to 6bp tighter).
  • SXXP is +0.2% while SPX futures are -0.1%. €IG movers include Bayer +11%, Sumitomo Mitsui +5%, CK Hutchison -4%.

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