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CREDIT UPDATE: Hybrid Movers:

CREDIT UPDATE
  • Rakuten equity down -8% but perps largely unchange
  • BRITEL 4.875 Call31 $ down -65
  • BRITEL 4.25 Call26 € down -34
  • Vod and Telefo also down 20-30
  • VW down 20-35c along the curve
  • BAYNGR 6.625 Call28 down -45c underperforming longer dated BAYNGR 7% Call31 -36
  • ORSTED 2.5 Call33 -31c
  • Rest of market is 10-25c lower. With 10yr Bunds -55c; 5yr Bobl -27c

    Source: Bloomberg for pricing
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  • Rakuten equity down -8% but perps largely unchange
  • BRITEL 4.875 Call31 $ down -65
  • BRITEL 4.25 Call26 € down -34
  • Vod and Telefo also down 20-30
  • VW down 20-35c along the curve
  • BAYNGR 6.625 Call28 down -45c underperforming longer dated BAYNGR 7% Call31 -36
  • ORSTED 2.5 Call33 -31c
  • Rest of market is 10-25c lower. With 10yr Bunds -55c; 5yr Bobl -27c

    Source: Bloomberg for pricing