Sovereign-Debt Snapshot
| Country | Maturity (Y) | Yield (%) | Previous (%) | Spread (bp) | |
|---|---|---|---|---|---|
| Australia | 10 | 2.043 | 2.040 | -56.4 | |
| Belgium | 10 | 0.546 | 0.539 | -206.0 | |
| France | 10 | 0.415 | 0.409 | -219.1 | |
| Germany | 10 | 0.057 | 0.071 | -254.9 | |
| Italy | 10 | 2.540 | 2.563 | -6.6 | |
| Japan | 10 | -0.030 | -0.036 | -263.6 | |
| Netherlands | 10 | 0.151 | 0.152 | -245.5 | |
| Portugal | 10 | 1.332 | 1.322 | -127.4 | |
| Spain | 10 | 1.069 | 1.044 | -153.7 | |
| Sweden | 10 | 0.297 | 0.294 | -230.9 | |
| U.K. | 10 | 1.166 | 1.184 | -144.0 | |
| U.S. | 10 | 2.606 | 2.642 | ... | |
Credit-Default Swap Market
New Issuance
| New Issues | New Issues [Continued] |
|---|---|
|
1. European Investment Bank (PLN) 3% 11/25/2029 (03/12/2019):1000MM Senior Unsecured Notes. 2. Danske Bank AS (EUR) 1.625% 3/15/2024 (03/12/2019): 500MM Senior Non Preferred Notes, Price at Issuance 99.463, Yielding 1.738%. 3. Telenor ASA (SEK) FLT% 9/20/2021 (03/12/2019): 2750MM Senior Unsecured Notes, Price at Issuance 100. |
ADI Indexes
| iShares Core EUR UCITS | iShares Euro High Yield UCITS |
| NAV as of 03/13/2019, 130.13 | NAV as of 03/13/2019, 104.30 |
| Daily NAV Change (%) +0.08% | Daily NAV Change (%) +0.11% |
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, January 2019)
- Eurostat's quarterly GDP: 0.2% (2018 Q3 Final)
- 6-month Euribor: current value -0.231%, as of 03/12/2019
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