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Whirlpool (WHR; Baa2/BBB-/BBB Neg) close levels on Bosch downplaying future acquisitions

CONSUMER CYCLICALS

  • Equities finished -4.7% but still +16% vs. pre-Bosch rumour levels.
  • $29s moved out +4. € bonds are +1 today after a unch to tighter close yesterday.
  • We continue to see balance of risks closer to the other end now (circa +15bps on local bonds).
  • Earnings tomorrow.

Update from yesterday


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  • Equities finished -4.7% but still +16% vs. pre-Bosch rumour levels.
  • $29s moved out +4. € bonds are +1 today after a unch to tighter close yesterday.
  • We continue to see balance of risks closer to the other end now (circa +15bps on local bonds).
  • Earnings tomorrow.

Update from yesterday