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CREDIT UPDATE: € Credit Midday

CREDIT UPDATE
  • Bunds are 1-2bp wider with 2y/10y yields at 2.03%/2.12%. Bonds remains under technical pressure, with OATs slightly tighter again. We have highly anticipated payrolls this afternoon.
  • €IG/€HY cash is around -1bp. No standout single name moves to report, but we see some general beta compression.
  • SXXP is +0.2% at 521pts while SPX futures are flat. €IG's biggest risers/fallers include Kering SA (+5%), Electrolux AB (+4%), DNB Bank ASA (-3%).
  • Main/XO are -0.7bp/-2bp at 53.1bp/290bp.
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  • Bunds are 1-2bp wider with 2y/10y yields at 2.03%/2.12%. Bonds remains under technical pressure, with OATs slightly tighter again. We have highly anticipated payrolls this afternoon.
  • €IG/€HY cash is around -1bp. No standout single name moves to report, but we see some general beta compression.
  • SXXP is +0.2% at 521pts while SPX futures are flat. €IG's biggest risers/fallers include Kering SA (+5%), Electrolux AB (+4%), DNB Bank ASA (-3%).
  • Main/XO are -0.7bp/-2bp at 53.1bp/290bp.