European Bond Research – March 19, 2019Posted on March 19, 2019
|Country||Maturity (Y)||Yield (%)||Previous (%)||Spread (bp)|
Credit-Default Swap Market
|New Issues||New Issues [Continued]|
|1. GlaxoSmithKline Capital PLC (USD) 3% 6/1/2024 (03/18/2019):1000MM Senior Unsecured Notes, Price at Issuance 99.476, Yielding 3.11%.
2. Erste Group Bank AG (EUR) 1.54% 3/18/2034 (03/18/2019): 50MM Senior Unsecured Notes, Price at Issuance 100, Yielding 1.54%.
3. Bankia SA (EUR) 0.875% 3/25/2024 (03/18/2019): 500MM Senior Preferred Security.
|iShares Core EUR UCITS||iShares Euro High Yield UCITS|
|NAV as of 03/19/2019, 130.51||NAV as of 03/19/2019, 103.15|
|Daily NAV Change (%) +0.00%||Daily NAV Change (%) +0.13%|
OVERALL EUROPEAN CREDIT MARKET:
The euro-zone economy shows signs of positive momentum, although conditions are expected to deteriorate hindered by the termination of quantitative easing, weakening credit rating quality, and uncertainty regarding the outcome of Brexit. Closely watched indicators and rates:
- Eurostat’s unemployment rate: currently 7.8% (seasonally adjusted, January 2019)
- Eurostat’s quarterly GDP: 0.2% (2018 Q3 Final)
- 6-month Euribor: current value –0.231%, as of 03/18/2019
Copyright 2019 Advantage Data Inc. All Rights Reserved. http://www.advantagedata.com
Information in this document should not be regarded as an offer to sell or solicitation of an offer to buy bonds or any financial instruments referred to herein. All information provided in this document is believed to be accurate. However, Advantage Data and its sources make no warranties, either express or implied, as to any matter whatsoever, including but not limited to warranties of merchantability or fitness for a particular purpose. Opinions in this document are subject to change without notice. Electronic redistribution, photocopying and any other electronic or mechanical reproduction is strictly prohibited without prior written permission from Advantage Data Inc.
Are you using AdvantageData?
AdvantageData is your fixed income solution for pricing, analytics, reports, and insight on approximately:
- 500,000+ U.S. and international corporate bonds
- Over 6,200+ CDS reference entities
- Over 22,000+ syndicated loans
- Over 100 equity markets worldwide
- One platform 16 products and services from debt to CDS to loans to mid-market
- Used by top buy and sell-side firms worldwide