EUROPEAN MARKETS ARE MOSTLY DOWN AGAIN. EUROPE IS AGAIN FACING EXPANDING CORONAVIRUS INFECTION IN ITALY AND FRANCE. TRUMP STATES VIRUS FEARS OVERBLOWN. FTSE 100 +0.28%, German DAX -0.57%, CAC 40 -0.4%, STOXX Europe 600 -0.38%. The 10-year Gilt was down 0.2 bps.
European Bond Research – February 26, 2020Posted on February 26, 2020
EUROPEAN BOND RESEARCH
February 26, 2020
|New Issues||New Issues [Continued]|
|1. Societe Generale SA (EUR) 0.235% 2/26/2029 (02/25/2020): 750MM , Price at Issuance 103.118.|
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, November 2019)
- Eurostat’s quarterly GDP: 0.4% (2019 Q4)
- 6-month Euribor: current value –0.358%, as of 02/25/2020.
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