Euro Corp Comment: The Investment Grade Corporate Juggernaut Keeps Rolling on
It was yet another frenetic week for the European corporate market with another batch of issuers jumping in, following a sharp tightening in secondary spreads at the back end of the previous week after the ECB cut rates and announced a new stimulus package.
Well The Data Looks Decent Enough
After a busy week on the central bank meeting front, just the RBNZ (Wednesday) gathers this week. The Bank is widely expected to stay its hand and leave the OCR at 1.00% after its jumbo-sized 50bps cut in August. That said, it will probably leave the door open to the possibility of further OCR cuts.
The NZD Week - Bias is Bearish
Wednesday's RBNZ OCR will be the indisputable week highlight. The IMF has warned ahead that the NZ government and central bank need to be prepared to further support the slowing economy after downside risks increased.
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