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Supply Expectations (bbg)

CREDIT MACRO

Local supply today is surprisingly firm but macro picks at a considerable pace for rest of the week.


  • €/£ IG/HY (incl. covered) are at ~€3b (last week ~€7b, actual €1.3b). $IG at $25b (last week $35b, actual $30b).
  • CBs: Fed on Wednesday (consensus and pricing for unch) where the guidance will be watched. BOE meeting on Thursday (most economist looking for a cut, market pricing a 60% chance).
  • Data: US July labour data week (ADP on Wednesday, claims and 2Q Unit Labour Costs Thursday and NFP/UR on Friday). 2Q GDP and July Inflation prints across the Eurozone starting tomorrow.

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