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US Pre-market

CREDIT UPDATE
  • No clear direction on $IG prints yet, rates are +20bps for it, pass through to bunds has seen it spike +10bps.
  • S&P futures are pointing to a rough -1.2% open, Airlines among those bucking the move as Delta restarts (quarterly) earnings season.
  • Corporate travel for it bounced +14%yoy with it pointing to return of large corporate accounts. International passenger revenue was +12%yoy.
  • €IG again net flat, primary was quiet with some pricing still in HY.

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