GLOBAL MARKETS ARE DOWN AS COVID CASES RISE. ALSO PUTTING PRESSURE ON THE MARKETS IS THE STATUS OF WHETHER THERE WILL BE A STIMULUS PACKAGE AND HOW BIG WILL IT BE? GLOBAL SOVEREIGNS ALSO WERE UNIVERSALLY DOWN. FTSE 100 +0.08%, German DAX -0.21%, CAC 40 -0.64%, STOXX Europe 600 -0.30%. The 10-year Gilt was DOWN 7.1 bps.
European Bond Research – December 7, 2020Posted on December 7, 2020
EUROPEAN BOND RESEARCH
December 7, 2020
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(None Current 12/07/2020)
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: EXPECTED TO SOAR.
- Eurostat’s quarterly GDP: EXPECTED TO CONTRACT.
- 6-month Euribor: current value –0.512%, as of 12/04/2020.
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