STOCKS WERE MIXED AND SOVEREIGN BONDS WERE LOWER. BORIS JOHNSON WORKING HARD TO MAKE BREXIT HAPPEN ON JANUARY 31ST, 2020-NO SHOW AT DAVOS. FTSE 100 -0.43%, German DAX -0.02%, CAC 40 +0.11%, STOXX Europe 600 +0.22%. The 10-year Gilt was down 1.2 basis points.
European Bond Research – January 16, 2020Posted on January 16, 2020
EUROPEAN BOND RESEARCH
January 16, 2020
|New Issues||New Issues [Continued]|
|1. Banca Monte Dei Paschi di Siena SpA (EUR) VAR% 1/22/2030 (01/15/2020): 400MM Subordinated Notes, Price at Issuance 100.
(None Current 01/16/2020)
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: currently 7.5% (seasonally adjusted, May 2019)
- Eurostat’s quarterly GDP: 0.4% (2019 Q1)
- 6-month Euribor: current value –0.334%, as of 01/15/2020
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