skip to main content
Close Icon

In order to deliver a personalized, responsive service and to improve the site, we remember and store information about how you use it. This is done using simple text files called cookies which sit on your computer. By continuing to use this site and access its features, you are consenting to our use of cookies. To find out more about the way Informa uses cookies please go to our Cookie Policy page.

Global Search Configuration

** Deutsche Bank SAE maintains a pulse in the Euro primary market with well received EUR1bn Dec 2021 Cedulas Hipotecarias, the first covered benchmark in Euros since 23rd Nov. See IGM's COVERED SNAPSHOT for more details.

** BNP Paribas was marketing a new USD PNC5.25 (14-Mar-2022) issue, the first USD AT1 debt from a European issuer since 16-Nov which had commanded over USD6bn of demand at the last update. For more details see IGM's FIG SNAPSHOT

** The primary corporate market drew a blank although secondary spreads were tighter for choice, with the exception of Tuesday's deal from Aroundtown Properties which struggled having received a rather underwhelming response. See the CORP SNAPSHOT for IGM's deal tracker

** With the ECB meeting taking centre stage on Thursday, Euro supply is likely to remain relatively contained


Broader market developments on Wednesday: QE style price action pre-ECB

** EU equities added to gains seen Monday and Tuesday, supported by financials with Italian banks buoyed by reports, later denied by the Italian Treasury, suggesting Rome could inject EUR15bn into its domestic banking system via the ESM

** Govvies also bid as markets fall further into the shadow of Thur's ECB meeting and thoughts turn to the possibility of extended QE beyond Mar 2017. PGBs outperformed the rest of the region, pulling the 10yr yield down to a 3-month low of 3.48%

** German and UK Industrial Production post huge misses in Oct with the MoM read for the latter at -1.3% (exp 0.2%), weakest print since Sep 2012. US Oct JOLTS beat at 5534 (exp 5500, prev 5631r from 5486)

** Oil bears retained the upper hand with Brent down 0.63% at USD53.59 as at 15:17 GMT, which follows a 1.84% decline Tuesday.

** iTraxx indices carve out fresh tights before widening with Main +0.4 at 74.8 and Crossover +1.1 at 317.2 as at 14.59. That follows session tights of 73.0 and 311.5, which marked the tightest levels since 10th Nov and 9th Sep respectively. Financials outperform with iTraxx Senior Financials index -0.80 at 100.99 and Sub index -10.46 at 235.84.


What to watch Thursday:

** Data: No game changing releases due with focus squarely on the ECB policy verdict/presser, although for interest Bank of France releases its latest Business Sentiment survey

**Events: Watching ECB. No change is expected in policy rates, putting focus on President Draghi's presser amid speculation QE could be extended beyond the current end date of Mar 2017. Click here for IGM's ECB Preview

SSA Priced / SSA Pipeline

CORP Priced / CORP Pipeline

FIG + Covered Priced / FIG + Covered Pipeline


Any questions? Speak to a specialist

If you have questions about how Informa Financial Intelligence can assist your business, please fill out the form below and we'll get back to you shortly.

If you prefer to get in touch by phone, please refer to the About section of our website for a list of our offices and contact details. 

Would you like to request sample data or analysis from Informa Financial Intelligence? 

See how our tailored solutions can help you gain a competitive advantage: