European Bond Research as of July 18, 2017

Posted by Michael F. Brown on Jul 18, 2017 4:52:03 PM
SENTIMENT BECAME MORE RISK-AVERSE, as European junk bonds lagged investment-grade debt in net price gains linked to actual trades. A jump in the euro followed news today of fresh setbacks in President Donald Trump's agenda amid fading hopes for passage of a new healthcare bill. Further conspiring to keep pressure on European risk assets were a sharp 15.7% pullback in Ericsson AB shares, while a bout of profit-taking impacted recent gains in the financials and materials groups.


ADI (Advantage Data Inc.) extensive corporate-bond index data showed a net daily yield increment for investment-grade over high-yield constituents. Investment-grade bonds edged out high-yield debt in net prices, as of 4 PM London time. Among European high-grade bonds showing a concurrence of topmost price gains at appreciable volumes traded, Barclays PLC 4.375% 9/11/2024 made some analysts' 'Conviction Buy' lists.

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