Credit-Default Swap Market
|New Issues||New Issues [Continued]|
1. Bank fuer Tirol und Vorarlberg AG (EUR) 0.275% 9/23/2024 (09/12/2019): 50MM Senior Preferred Security, Price at Issuance 100, Yielding .28%.
2. BNP Paribas (JPY) 1.058% 9/25/2034 (09/13/2019): 8500MM Subordinated Notes, Price at Issuance 100, Yielding 1.06%.
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: currently 7.5% (seasonally adjusted, May 2019)
- Eurostat's quarterly GDP: 0.4% (2019 Q1)
- 6-month Euribor: current value -0.408%, as of 09/12/2019
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