EU CREDIT UPDATE: EU Credit Close
Jan-24 16:12
- 2y/10y bunds closing +5bp/+3bp at 2.29%/2.57%. %. MNI policy sources suggested the pace of cuts is set to continue at 25bp. Stronger than expected flash PMIs pushed yields slightly higher. Softer-than-expected US PMIs pushed treasury yields lower.
- €IG closes -0.3bp on average. SES (-10-12) is tighter on hybrid buybacks, which are 1-4 points higher. CPUAU (-8) also outperformed.
- SX5E/SPX futures are +0.4%/-0.2%. €IG movers include Novo Nordisk A/S (+7%), Kering SA (+5%), Forvia SE (+7%), Mediobanca Banca di Credito Fi (+7%), Telefonaktiebolaget LM Ericsso (-11%), MTU Aero Engines AG (-6%), Nokia (-4%).
- Main/XO ending +0bp/+1bp at 53.5bp/290bp.
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