Free Trial

Flows/Supply

CREDIT MACRO
  • CDX HY has rolled into S42, (net) +11bps at 334bps. Good day for the roll with strong open for CDX IG (-1bp).
  • In flows, $IG's largest ETF, LQD, saw -$800m in outflows yesterday & is now at -$1.7b over the week - it should have an impact on weekly flows reported on Friday. $HY ETF's are still holding onto a firm recovery after last weeks outflows. €IG/IEAC is continuing to see small outflows.
  • Little impact in primary - deals in €, $ & £ were well covered yesterday though double digit NIC's were again on offer again for some local/€ corp deals.
  • Supply has slowed down in €IG yet spreads are still struggling for direction (again) today. $IG opening prints are wider, it finished yest. +1.2/+3.8 (HY) wider.

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.