MARKETS DOWN AS EUROPEAN COUNTRIES ARE UNABLE TO COME TO A UNIFIED CONCRETE PLAN OF ATTACK CONCERNING THE VIRUS. CASES AND DEATHS KEEP RISING. FTSE 100 -5.24%, German DAX -3.68%, CAC 40 -4.23%, STOXX Europe 600 -3.26%. The 10-year Gilt was down 3.6 bps.

European Bond Research – March 27, 2020
Posted on March 27, 2020
EUROPEAN BOND RESEARCH
|
March 27, 2020
|
Industry Returns Tracker | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
New Issues | New Issues [Continued] |
---|---|
1. Cie De St-Gobain (EUR) 2.375% 10/4/2027 (03/26/2020): 750MM Senior Unsecured Notes.
2. Standard Chartered PLC (USD) VAR% 4/1/2031 Reg S (03/26/2020): 2000MM Senior Unsecured Notes, Price at Issuance 100. 3. Credit Suisse AG London (AUD) FLT% 4/16/2023 (03/26/2020): 1000MM Unsecured Notes, Price at Issuance 100. 4. Credit Suisse AG London (AUD) FLT% 4/16/2023 (03/26/2020): 1000MM Unsecured Notes, Price at Issuance 100. 5. Credit Suisse AG London (USD) FLT% 6/20/2025 (03/26/2020): 50MM Senior Unsecured Notes, Price at Issuance 100. 6. Standard Chartered PLC (USD) 0% 4/9/2050 (03/26/2020): 100MM Senior Unsecured Notes, Price at Issuance 100, Yielding 0%. 7. Quilter PLC (GBP) 4.478% 2/28/2028 (03/27/2020): 200MM Subordinated Notes. |
|
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 –0.274%, as of 03/25/2020.
Copyright 2020 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 300,000+ BDC fair value assessments dating back to 2000
- Over 22,000+ syndicated loans
- Over 100 equity markets worldwide
- One platform 15 products and services from debt to loans to mid-market
- Used by top buy and sell-side firms worldwide