Real time insight of EU credit markets
EU Weekly
Spreads were little changed in a quiet week.
December 12, 2025 16:01Spreads tightened 4.5bp, with the seasonal "Santa Claus rally" seemingly under way.
December 05, 2025 16:08Spreads widened late in the week due to renewed concerns on tech valuations.
November 21, 2025 16:04EU Credit Update
---------------------------------------------- B'mark (CBBT) IG IG $IG Universe -0.2bp -0.5bp -0.4bp Fins -0.3bp -0.4bp -0.3bp SUN -0.4bp -0.3bp -0.4bp Bail-In -0.2bp -0.4bp -0.3bp Tier 2 -0.4bp -0.4bp -0.3bp Corps -0.2bp -0.6bp -0.4bp AA -0.1bp -0.6bp -0.4bp A -0.2bp -0.5bp -0.4bp BBB -0.3bp -0.6bp -0.5bp Real Estate flat -0.4bp -0.3bp Price (IBVL) EUR USD AT1/RT1 +01c +05c BBB flat +05c BB +02c +05c Corp Hybrid -03c +03c BBB -04c +04c BB -03c +03c
Dec-19 16:32* 2y/10y bunds are closing +2bp/+4bp at 2.15%/2.89%. * IG closes -0.2bp on average. SESGFP up to +7. * SX5E/SPX futures are +0.4%/+0.6% at 5789pts/6871pts. IG movers included Public Property Invest AS (+5%), Albemarle (+5%). * Main/XO finish +0.3bp/flat at 51.1bp/246bp.
Dec-19 16:28------------------------------------- B'mark (CBBT) IG IG Universe -0.1bp -0.3bp Fins -0.1bp -0.3bp SUN -0.2bp -0.3bp Bail-In flat -0.3bp Tier 2 -0.2bp -0.4bp Corps -0.1bp -0.3bp AA +0.1bp -0.3bp A flat -0.3bp BBB -0.2bp -0.4bp Real Estate flat -0.3bp Price (IBVL) EUR AT1/RT1 +01c BBB -01c BB +01c Corp Hybrid -02c BBB -03c BB -02c
Dec-19 12:32* 2y/10y bunds are +1bp/+4bp at 2.15%/2.89% - DM team flagged modest OAT spread widening; with the Joint Committee unable to reach an agreement on the 2026 state budget (PLF) this morning, the French Government cannot pass its full budget before year-end. * Main/XO are +0.5bp/+2bp at 51.4bp/248bp while IG looks -0.1bp on average. No supply today. * SX5E/SPX futures are -0.1%/+0.1% at 5760pts/6839pts. IG movers included Public Property Invest AS (+4%).
Dec-19 12:31EU Credit Bullets
EU Credit Macro
Download Full Report Here: https://media.marketnews.com/Fed_Prev_Dec2025_With_Analysts_4d5a318a2b.pdf * The FOMC is expected to look through the data fog and deliver a "hawkish cut" on December 10, with a third consecutive 25bp reduction in the Fed funds rate range to 3.50-3.75%. * While a December cut is over 90% priced, a follow-up cut in January is seen as having under 30% probability, and the next easing is only fully priced by next June. * There will be the usual attention on the Summary of Economic Projections including the Dot Plot, but more attention than usual on the Statement to see how resolutely the easing bias remains. * Forward guidance is likely to be amended to reflect a more patient stance on cuts. As such the market reaction to the meeting could hinge on how Chair Powell portrays the burden of proof for the next cut. * Powell will highlight that the Committee is increasingly reluctant to ease further without additional evidence of labor market deterioration. But by the same token, he could express that's not an insurmountable obstacle, and a follow-up easing is possible in the event of incoming data before end-January. * The lack of major data since the September projections round portends only limited changes to the macro and rate forecasts. None of the end-year rate dot medians are likely to change, implying 25bp cuts in each of 2026 and 2027.
December 08, 2025 22:40The FOMC is unanimously expected to cut the Fed funds rate by 25bp at the October meeting, per 31 previews seen by MNI.
October 27, 2025 21:36The Federal Reserve is overwhelmingly expected to cut the funds rate by 25bp for a 2nd consecutive meeting.
October 24, 2025 21:05All but 2 analysts expect a 25bp cut at the September FOMC.
September 15, 2025 16:52
