EU CREDIT UPDATE: € Credit Close
Dec-02 16:21By: Donal Golden
- Bunds are closing 5-6bp tighter with 2y/10y yields at 1.89%/2.04%. French political risk provided a safe haven bid through the session.
- €IG closes +1bp. Reported PE interest for WLNFP saw bonds converge on par with the 29s 16 wider. ESSITY (+4-13) continues to price out a par event. NSANY 28s widened 12bp with USD and CDS pressured since Friday’s close. In FIG, French names were up to 8bp wider.
- SXXP/SPX are +0.4%/+0.1% at 512pts/6041pts. €IG's biggest movers include Worldline SA/France (+16%), LANXESS AG (+8%), Stellantis NV (-7%), Carrefour SA (-6%).
