European Bond Research – May 2, 2019Posted on May 2, 2019
|Country||Maturity (Y)||Yield (%)||Previous (%)||Spread (bp)|
Credit-Default Swap Market
|New Issues||New Issues [Continued]|
|1. Credit Suisse Group (USD) 3.142% 4/9/2023 (05/01/2019): 100MM Senior Unsecured Notes.
2. Erste Group Bank AG (EUR) FLT% 5/13/2030 (05/02/2019): 50MM Senior Unsecured Notes, Price at Issuance 100.
|iShares Core EUR UCITS||iShares Euro High Yield UCITS|
|NAV as of 05/02/2019, 131.99||NAV as of 05/02/2019, 104.03|
|Daily NAV Change (%) -0.08%||Daily NAV Change (%) -0.28%|
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 7.7% (seasonally adjusted, March 2019)
- Eurostat’s quarterly GDP: 0.4% (2019 Q1 Preliminary)
- 6-month Euribor: current value –0.231%, as of 05/01/2019
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