GLOBAL MARKETS REBOUND SHARPLY AS ENERGY AND BANKING STOCKS POP. OIL AND COMMODITIES ALSO JUMPED. THE DOLLAR WAS DOWN AGAINST MOST CURRENCIES. FTSE 100 +1.46%, German DAX +3.32%, CAC 40 +2.40%, STOXX Europe 600 +2.22%. The 10-year Gilt was up 1.4 bps.

European Bond Research – September 28, 2020
Posted on September 28, 2020
EUROPEAN BOND RESEARCH
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September 28, 2020
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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 –0.468%, as of 09/25/2020.
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