** The only primary deal in any currency on the day came courtesy of Swedbank which issued a USD500m PNC5.25 AT1 line which attracted demand of over USD2.9bn. This after Credit Agricole announced investor calls on Thursday evening for its debut non-preferred benchmark. For more see IGM's FIG snapshot
** Weekly Euro volume stood at just EUR3.585bn via 7 transactions, down from EUR15.34bn the previous week. See IGM's WEEKLY VOLUME report for more
** Latest weekly data from EPFR Global showed that outflows from EUR-denominated investment grade bond funds accelerated to US$1,838.27m equivalent in the week ending 07th Dec which represents the fifth consecutive week of outflows. For more see IGM's EPFR FUND FLOWS report
IGM Credit Excel weekly overview
** The IGM European Weekly Credit Overview is your comprehensive round-up of primary European new issue activity in Excel format, which allows users to conveniently download, save and edit the data as required. As well as new issue terms and conditions the spreadsheet incorporates additional sought after new issue data sets including distribution stats, book sizes, NICs and secondary market performance.
Broader market developments on Friday:
** German yield curve bull flattens, Gilts underperform Bunds by up to 11bps (10yr) , follows a rise in the BoE's 12-month inflation expectations barometer, at highest level since Aug 2014, while the UK trade deficit narrowed in Oct
** Stocks remained more or less neutral with any move higher of very small magnitude, financials underperformed following a recent winning streak. Italy's FTSE MIB underperformed, down 1.20% as at 15.11 - ECB refuses BMPS extra time to raise capital (BN)
** Brent was on course to end the week 0.59% lower having climbed 0.41% at USD54.11 as at 15.12 GMT
** iTraxx Main showed no clear trend and respected the week's 73.02 tight, while Crossover touched a new multi-month tight 308.11
What to watch Monday:
** Data: There are no top tier releases in Europe or US on Monday 12th December as markets shift their attention to Wednesday's FOMC verdict, which follows a two-day policy meeting starting Tues.
** Events: So far only ECB's Nowotny is scheduled to speak, although his focus will be on Austria as he addresses the domestic economic outlook.
** Supply: There are no auctions scheduled in Europe on Monday, while US plans to sell USD24bn 3yr and USD20bn 10yr Notes at 16.30 and 18.00 GMT respectively.
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