TRADE NEGOTIATIONS between the EU and the United States will not be easy, “but both sides should benefit in the end, German economy Minister Peter Altamaier said on Monday." The goal is to reduce tariffs to zero and ultimately fend off a trade conflict. Negotiations will commence later this week and will continue for the upcoming months. Among European high-yield bonds showing a concurrence of top price gains at appreciable volumes traded, Barclays PLC (USD) 4.375% 9/11/2024 made some analysts' 'Conviction Buy' lists. (See the chart for Barclays PLC bonds below). Niral Mehta (email@example.com
|Country||Maturity (Y)||Yield (%)||Previous (%)||Spread (bp)|
Credit-Default Swap Market
|New Issues||New Issues [Continued]|
1. Basellandsch KTBK (CHF) 0.375% 5/13/2030 (04/15/2019):180MM Senior Unsecured Notes, Price at Issuance 100.865, Yielding .3%.
|iShares Core EUR UCITS||iShares Euro High Yield UCITS|
|NAV as of 04/15/2019, 131.30||NAV as of 04/12/2019, 104.39|
|Daily NAV Change (%) -0.02%||Daily NAV Change (%) +0.05%|
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 04/12/2019
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