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Supply Expectations (bbg)

CREDIT MACRO
  • €/£ IG/HY (incl. covered) expectations fall to ~€6.75b from ~€10b last week (actual €12.5b). * $IG expectations stay unch at $35b (last week actual $44.5b).
  • July Euro/UK PMI's on Wednesday, first look at 2Q US GDP on Thursday and June US PCE inflation and Personal Spending on Friday.
  • Ongoing US political risk; currently likely replacement, VP Kamala, not doing much to Trump's odds in betting markets (-2.6ppt to 62.5%).

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