Real time insight of EU credit markets
EU Weekly
Spreads managed a small move tighter despite heavy supply.
January 09, 2026 16:09Spreads 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 16:08EU Credit Update
------------------------------------------------------------------------------ IG B'mark Deals (excl. FRNs/hybrids/EM): Bond Count 8 (1 Corp/7 FIG) Amount Issued 5.65bn (9%/91%) Average IPT 29bp (from 25bp to 35bp) Avg/Median NIC -1bp/0bp (from -10bp to 5bp) Average Cover 4.3x (as of FT) Average Book +36% (first to FT)
Jan-13 13:56------------------------------------- B'mark (CBBT) IG IG Universe -0.4bp -0.2bp Fins -0.4bp -0.1bp SUN -0.4bp -0.2bp Bail-In -0.3bp -0.1bp Tier 2 -0.6bp -0.2bp Corps -0.3bp -0.2bp AA -0.3bp -0.1bp A -0.4bp -0.2bp BBB -0.3bp -0.3bp Real Estate -0.5bp -0.2bp Price (IBVL) EUR AT1/RT1 +00c BBB +02c BB -01c Corp Hybrid -02c BBB -02c BB -01c
Jan-13 12:51* 2y/10y bunds are +1bp/+2bp at 2.1%/2.86% - DM team flagged pressure this morning amid heavy sovereign, SSA and corporate supply, alongside an uptick in crude futures. * Main/XO are -0.1bp/flat at 49.6bp/240bp while IG looks -0.4bp on average. Supply - EUR Corps: CAABNK (3yr), HEIBOS (PERPNC5.25), HYUCAP (3yr). EUR Fins: BNP (8.25NC7.25), BYLAN (11NC6), DNBNO (6NC5), IFIM (10.25NC5.25), MAPSM (6yr, 10yr), RBIAV (PERPNC6.9), SOCGEN (11NC10). * SX5E/SPX futures are +0.2%/-0.1% at 6039pts/7010pts. IG movers include Cie de Saint-Gobain (-4%).
Jan-13 12:51EU 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
