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Supply expectations (bbg)

CREDIT MACRO
  • € and £ IG/HY (incl. covered) at ~€17b from ~€20b last week (actual €14.3b). Quiet start this morning but we do have 6 mandates in the market.
  • $IG is compensating for last week at $25-30b up from a revised down $15b last week (actual $5.8b)
  • China data this morning was mixed; May nominal Retail sales firm at 3.7% vs, c3%yoy while industrial production came softer at 5.6% vs. c6.2%. Focus this week includes US May nominal retail sales on Tuesday (markets are expecting control to rebound from -0.3% to +0.4% MoM), UK inflation (Wednesday), a expected uneventful BOE decision (Thursday) and PMI's for Europe and S&P PMIs for US on Friday.

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