MNI US Credit Weekly

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Executive summary

• Spreads modestly rallied in the week as the market looked past the ceasefire back-and-forth.
• In macro, rate hike pricing reverted higher as US-Iran talks stuttered.
• Fund flows weakened for credit led by IG. US equity strength continued in face of outflows in other regions.
• Supply was at the low end of the $20-$25B estimates, with 15 issuers pricing $21B, led by AT&T’s $6B.