MNI US Credit Weekly
May-08 20:33By: Ronnie Kihonge and 4 more...
US UtilitiesUSUS TransportationUS Technology+ 11
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Executive Summary:
- Spreads tightened in the week on growing geopolitical optimism coupled with firm corporate earnings.
- In macro, economic data remained of secondary importance. Implied rate hikes eased as the U.S.-Iran conflict appeared nearer to a resolution.
- Fund flows were weak outside USD IG and ongoing strength in US equities.
- Supply was slightly below $40B estimates, with 25 issuers pricing $37B, led by Eli Lilly’s $9B for M&A.
