HSBC HAS MOVED OVER JOBS TO PARIS TO DEAL WITH BREXIT. This act was initiated to diversify risk across the bank’s lending business, which has declined over the recent months impairing the revenue. Italy’s UBI Banca has showed interest over M&A opportunities to create value for shareholders, and to be able to offer their clients a variety of products and services. Among European high-yield bonds showing a concurrence of top price gains at appreciable volumes traded, Petrobras Global Finance BV (USD) 5.75% 2/1/2029 made some analysts' 'Conviction Buy' lists. (See the chart for Petrobras Global Finance bonds below). Niral Mehta (email@example.com
|Country||Maturity (Y)||Yield (%)||Previous (%)||Spread (bp)|
Credit-Default Swap Market
|New Issues||New Issues [Continued]|
1. Yorkshire Water Finance PLC (GBP) 2.75% 4/18/2041 (04/11/2019): 350MM Secured Notes, Price at Issuance 97.912, Yielding 2.859%.
2. Societe Generale (AUD) 4.5% 4/18/2034 (04/11/2019): 300MM Subordinated Notes, Price at Issuance 100, Yielding 4.5%.
|iShares Core EUR UCITS||iShares Euro High Yield UCITS|
|NAV as of 04/12/2019, 131.24||NAV as of 04/12/2019, 104.34|
|Daily NAV Change (%) -0.18%||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, February 2019)
- Eurostat's quarterly GDP: 0.2% (2018 Q3 Final)
- 6-month Euribor: current value -0.232%, as of 04/11/2019
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