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VW Perps: Equity Back To 1st Nov 2023 Levels

CREDIT UPDATE

The equity market is pricing in Chinese retaliation for Tariffs.

  • Perps have sold off +50bps in spread since May's tightest levels
  • We are still well above the levels when equity was last this low.



Security Move from 1st Nov

  • VW 7 1/2 Call28 +5.19pts
  • VW 3 7/8 Call29 +9.29pts
  • VW 3 1/2 Call30 +8.72pts
  • VW 4 3/8 Call31 +10.66pts
  • VW 7 7/8 Call32 +9.88pts

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