April 26, 2024 14:20 GMT
Tightening Extends, French Sovereign Rating Updates Eyed
EGBS
Bunds lag most EGB peers during today’s recovery.
- Peripheral spreads tighten further, with global FI markets bid in the wake of the U.S. PCE data, benchmark European equities rallying further and major credit benchmarks tighter.
- 10-Year BTPs are ~5bp tighter vs. Bunds on the day, moving back below 135bp. A reminder that the tightening move in that spread ran out of steam around these levels earlier in the week.
- Broader EGB focus falls on potential sovereign rating reviews for France after hours (click for greater details/colour).
86 words