MARKETS CONTINUE THEIR UPWARD TREND! MARKETS SHRUG OFF THE CORONAVIRUS AND BELIEVE TRUMP’S ACQUITTAL WILL ONLY FUEL THE MARKET’S UPWARD CLIMB. FTSE 100 +0.41, German DAX +0.59%, CAC 40 +0.81%, STOXX Europe 600 +0.41%. The 10-year Gilt was down 2.1 bps.
European Bond Research – February 6, 2020Posted on February 6, 2020
EUROPEAN BOND RESEARCH
February 6, 2020
|New Issues||New Issues [Continued]|
|1. Comcast Corp. (GBP) 1.875% 2/20/2036 (02/05/2020): 800MM Senior Unsecured Notes, Price at Issuance 99.232, Yielding 1.922%.
2. Comcast Corp. (USD) 1.5% 2/20/2029 (02/05/2020): 600MM Senior Unsecured Notes.
3. Comcast Corp. (USD) 0.75% 2/20/2032 (02/05/2020): 1400MM Senior Unsecured Notes, Price at Issuance 99.84, Yielding .764%.
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 –0.346%, as of 02/05/2020.
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