MNI BRIEF: BOC Sees Milder Reaction To Tariffs Than To Covid

BOC SAYS ITS RESPONSE TO A TARIFF WAR WON'T BE LIKE IN COVID

BOC: TRADE THREATS ALREADY BLURRING DOMESTIC ECONOMIC REBOUND

MNI INTERVIEW2 -Banxico Optimistic On Non-Core Inflation-Heath

MNI China Daily Summary: Friday, February 21

MNI BOK WATCH: Board To Ease Base Rate To 2.75%

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 488; GAS RIGS 99

BAKER HUGHES CANADA RIG COUNT 244; OIL RIGS 174; GAS RIGS 70

MNI: US NAR: JAN EXISTING HOME SALES 4.08M SAAR

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI Credit Weekly: Go Big or Go Home

Spreads were again tighter on average by 2.2bps. Spread compression was a theme with wider names doing well.
AnalysisCredit AnalysisHomepageCreditStory

Executive Summary: 

  • Spreads were again tighter on average by 2.2bps. Consumer Discretionary posted a strong move despite weak Chinese demand impacting many names. Spread compression was a theme with wider names doing well.
  • Macro had a more challenging week. Equities were softer but not dramatically so. Rates whipsawed during the weak with soft French PMIs, hawkish comments from Prof. Schnabel and NATO pressure on government spending all providing volatility away from the obvious US source.
  • Fund flows moderated for $IG but was offset with firm $HY inflows. Inflows into €IG firmed to above $2b. European equities set records for a second straight week with $4b+ inflow – highest since February 2022.
  • Supply came to EUR 18.9bn this week across 24 lines from 16 issuers including large deals from J&J, Carlsberg and Enel; we calculate a 0bp average MNI NIC when excluding the Athene deal (an outlier at 17bp).

Full piece here: 25.02.21 MNI Credit Weekly.pdf

152 words

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.

Executive Summary: 

  • Spreads were again tighter on average by 2.2bps. Consumer Discretionary posted a strong move despite weak Chinese demand impacting many names. Spread compression was a theme with wider names doing well.
  • Macro had a more challenging week. Equities were softer but not dramatically so. Rates whipsawed during the weak with soft French PMIs, hawkish comments from Prof. Schnabel and NATO pressure on government spending all providing volatility away from the obvious US source.
  • Fund flows moderated for $IG but was offset with firm $HY inflows. Inflows into €IG firmed to above $2b. European equities set records for a second straight week with $4b+ inflow – highest since February 2022.
  • Supply came to EUR 18.9bn this week across 24 lines from 16 issuers including large deals from J&J, Carlsberg and Enel; we calculate a 0bp average MNI NIC when excluding the Athene deal (an outlier at 17bp).

Full piece here: 25.02.21 MNI Credit Weekly.pdf