Free Trial

Market Wrap

CREDIT PRE-MARKET
  • Bunds closed 1-2bps tighter after trading in a tight range in the wake of dovish comments from the BOE’s Mann and the ECB’s Muller though US data did move yields away from intraday lows.
  • Main/XO closed +1bp/+4bp with XO back above 300 while €IG/€HY closed flat/+1bp with Tech and Cyclicals tighter at -0.7bp/-0.4bpa and Transport underperforming at +0.4bp. Tech has underperformed YTD at -11bp but is the only sector tighter WoW.
  • SXXP closed +0.3% with Retail the best performers at +1% while Energy underperformed at -0.5%. WoW most sectors are in the green with Retail and Real Estate just under 5% higher. Notable movers: Rubis +12% on an equity upgrade in the wake of the Bollore stake purchase and Auto Trader -5% on an equity downgrade given recent underperformance.
  • Asian equities are mixed but broadly higher with the Nikkei +1% against a weak yen but HIS -0.6% on Tech underperformance. Stoxx 50 futures are -0.1%. Up today we have:

GMT/Local

Impact

Country

Event

0700/1500

**

CN

MNI China Liquidity Index (CLI)

0745/0845

**

FR

Consumer Sentiment

0800/0900

***

ES

HICP (p)

0830/0930

***

SE

Riksbank Interest Rate Decison

0900/1000

EU

ECB Cipollone At House of the Euro Event

1000/1100

**

EU

EZ Economic Sentiment Indicator

1000/1100

*

EU

Consumer Confidence, Industrial Sentiment

1100/0700

**

US

MBA Weekly Applications Index

1230/1330

EU

ECB Elderson At Climate-Related Financial Risks Panel

1430/1030

**

US

DOE Weekly Crude Oil Stocks

1530/1130

**

US

US Treasury Auction Result for 2 Year Floating Rate Note

1700/1300

**

US

US Treasury Auction Result for 7 Year Note

2200/1800

US

Fed Governor Christopher Waller

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.