EU CREDIT SUPPLY: CREDIT SUPPLY: €IG Primary Tracker

• Former President Donald Trump returned to the social media platform X for the first time since 2021, sitting for an interview with entrepreneur Elon Musk. A presence on X, seen as central to driving the momentum of his 2016 presidential campaign, could broaden Trump’s reach to independent voters, but the interview offered little in the way of a fresh pitch to moderate voters.
• Trump’s VP nominee Senator JD Vance (R-OH) endorsed Trump’s call for the White House to have “a say” over the Fed's monetary policy decisions.
• White House press secretary Karine Jean-Pierre told reporters that President Biden supports a plan, first proposed by Trump and later adopted by Vice President Harris, to eliminate taxes on tipped earnings. The proposal, which is unlikely to become law, is likely designed to sway voters in Nevada - a key swing state that is home to thousands of workers in the service industry.
• A labour strike at East Coast ports just weeks before the presidential election is looking increasingly likely.
• White House National Security Council spokesperson John Kirby told reporters that the US agrees with an Israeli intelligence assessment that an Iranian attack on Israel could come “within days.”
• The House Freedom Caucus is pressing for a short-term government funding bill into early 2025, calculating that an end-of-year omnibus funding package could benefit Democrats.
• Poll of the Day: Pollsters are divided on whether the underlying political environment benefits Trump or Harris.

$16.4B Priced Monday, led by Eli Lilly, Caterpillar and BoA, over half of the total high grade issuance estimated for the week. Docket looking bare at the moment with issuers sidelined ahead of PPI data - should accelerate in the near term as the latest earning cycle winds down.

• Date $MM Issuer (Priced *, Launch #)
• 8/12 $5B *Eli Lilly $750M 3Y +35, $1B 5Y +50, $1.25B 10Y +70, $1.25B 30Y +88, $750M 40Y +100
• 8/12 $2.5B *Caterpillar $750M 2Y +47, $500M 2Y SOFR+69, $650M 3Y +58, $600M 5Y +68
• 8/12 $2.5B *Bank of America 11NC10 +152
• 8/12 $1.75B *NatWest $500M 4.25NC3.25 SOFR+130, $1.25B 6NC5 +122
• 8/12 $1.2B *CDW $600M +5Y +137.5, $600M 10Y +168
• 8/12 $800M *CenterPoint Energy $400M 30.5NC5.25 7%, $400M 30.5NC10.25 6.85%
• 8/12 $650M *Equifax +5Y +105
• 8/12 $500M *Principle Life 3Y +80
• 8/12 $500M *Arrow Electronics 5Y +143
• 8/12 $500M *EnLink Midstream 10Y +180
• 8/12 $500M *O'Reilly Automotive 10Y +113
• 8/12 $1.5B JetBlue 7NC3 7%a investor calls