January 27, 2025 09:43 GMT
HYBRIDS: Hybrid movers: Infineon
HYBRIDS
- Infineon Perps are Unchanged this morning with the Equity down 4.4%
- IFXGR Call28 trades with Sub_Sen +82 which is at the low-end of the range for BBB- names.
- ORAFP and KPN are low 80s. ENELIM, IBESM, ENGIFP in mid 90s.
- Infineon's exposure to AI is primarily in controlling power supply to servers
- This is more of an equity story, the perps were issued to pay for Cypress Semiconductors are the credit has improved significantly since then.
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