THE ELUSIVE US/CHINA TRADE AGREEMENT AND THE IMPENDING TARIFF INCREASE, CAUSED STOCKS TO FALL IN EUROPE. Trump signed a bill supporting the Hong Kong protestors angered China who in turn banned US military visits to the city and cut off non-profit’s access to the city. FTSE 100 -0.82%, German DAX -2.05%, CAC 40 -2.01%, STOXX Europe 600 -1.58%. The 10-year Gilt lost 4.2 basis points.
European Bond Research – December 2, 2019Posted on December 2, 2019
EUROPEAN BOND RESEARCH
December 2, 2019
Credit-Default Swap Market
|New Issues||New Issues [Continued]|
(None Current 12/02/2019)
OVERALL EUROPEAN CREDIT MARKET:
The euro-zone economy shows signs of negative momentum, weakening credit rating quality, and uncertainty regarding the outcome of Brexit. Closely watched indicators and rates:
- Eurostat’s unemployment rate: currently 7.5% (seasonally adjusted, May 2019)
- Eurostat’s quarterly GDP: 0.4% (2019 Q1)
- 6-month Euribor: current value –0.343%, as of 11/29/2019
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