With our final EU Credit Weekly of 2025, we would like to wish all our clients a happy festive break and look forward to working with you next year.
Executive Summary:
- Despite light primary, spreads failed to repeat last week’s strength, finishing +0.3bp.
- The FOMC decision was the central macro event of the week, with a less hawkish picture than expected. EUR rates repriced towards future hikes.
- Fund flows were small across the board.
- Supply dropped off nearly entirely with just GS coming to the EUR market.