April 30, 2024 11:56 GMT
US Open
CREDIT UPDATE
- CDX opening unch to wider while €IG cash again mildly tighter
- A -0.2bp close across both regions yest. - holding patten for cash unsurprising given €IG 2bps from recent lows & $IG ~0.5bp away with major macro on the horizon (NFP, Fed).
- Still no signs of life in $ETF flows that remain flat. Strong demand yest. for Boeing's $10b/6-parter with deal ~7x covered - though it did add 25bp step ups per agency and notch (capped at 1%) to entice investors in.
- S&P futures -0.1% with some vol on earnings - tech heavyweights Amazon & AMD come after the close.
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