Real time insight of EU credit markets
EU Weekly
Spreads tightened marginally, while primary gave positive signals.
January 16, 2026 16:15Spreads managed a small move tighter despite heavy supply.
January 09, 2026 16:09Spreads were little changed in a quiet week.
December 12, 2025 16:01EU Credit Update
------------------------------------------------------------------------------- IG B'mark Deals (excl. FRNs/hybrids/EM e.g. RABROM): Bond Count 6 (4 Corp/2 FIG) Amount Issued 6.80bn (45%/55%) Average IPT 30bp (from 25bp to 35bp) Avg/Median NIC 5bp/5bp (from 0bp to 8bp) Average Cover 2.8x (as of FT) Average Book -24% (first to FT)
Jan-20 15:16------------------------------------- B'mark (CBBT) IG IG Universe +0.8bp +1.5bp Fins +1.5bp +1.2bp SUN +0.8bp +0.8bp Bail-In +1.7bp +1.2bp Tier 2 +2.1bp +1.6bp Corps +0.7bp +1.7bp AA +0.6bp +1.5bp A +0.7bp +1.7bp BBB +0.7bp +1.7bp Real Estate flat +1.4bp Price (IBVL) EUR AT1/RT1 -27c BBB -27c BB -27c Corp Hybrid -23c BBB -22c BB -22c
Jan-20 13:08* 2y/10y bunds are flat/+5bp at 2.08%/2.89% - DM team flagged bear-steepening on weakness in Japanese bonds stems from PM Takaichi's well-documented fiscal plans ahead of the February snap election, alongside weak demand at today's 20-year auction. * Main/XO are +0.8bp/+5bp at 52.7bp/255bp while IG looks +0.8bp on average. IG curve movers include ANESM (up to +10), MS (up to +7), BACR (+3), BMW (2-7 wider), BERTEL (up to +4). * Supply - EUR Corps: BERTEL (8.5yr SUN), BMW (3yr SUN, 6yr SUN, 10yr SUN). EUR Fins: MS (3.75NC2.75 SUN FRN, 6NC5 SUN, 11NC10 SUN). * SX5E/SPX futures are -1.1%/-1.3% at 5875pts/6884pts. IG movers include Informa (+4%), Aliaxis (-9%), Acciona (-5%), Aroundtown (-4%), SKF AB (-4%).
Jan-20 13:08EU 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
