Free Trial

MNI Credit Weekly: Sailing Upwind

Executive Summary: Sailing Upwind

  • Despite OATs at new wides betraying ongoing nervousness into the French election, credit managed to tighten slightly over the week.
  • Index OAS spread tightened almost 2bp to yesterday’s close. TMT and Energy were strongest, with Capital Goods weakness. Financial moves were in line with corporates, with Jefferies’ results a positive early indicator for earnings season.
  • Primary had another slow week, but conditions were friendlier to issuers than the previous fortnight. We even had the return of AT1 issuance, with Commerzbank meeting strong demand.
  • Fund flows were rather flat in Europe, but inflows persist in US credit.
Full piece here:

24.06.28 MNI Credit Weekly.pdf

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.