|Country||Maturity (Y)||Yield (%)||Previous (%)||Spread (bp)|
Credit-Default Swap Market
|New Issues||New Issues [Continued]|
1. Ergon Inc. (EUR) 1.875% 4/11/2025 (04/04/2019): 500MM Senior Unsecured Notes, Price at Issuance 99.674, Yielding 1.933%.
2. Norsk Hydro ASA (EUR) 1.125% 4/11/2025 (04/04/2019): 500MM Senior Unsecured Notes, Price at Issuance 99.265, Yielding 1.253%.
|iShares Core EUR UCITS||iShares Euro High Yield UCITS|
|NAV as of 04/05/2019, 131.2||NAV as of 04/05/2019, 103.99|
|Daily NAV Change (%) +0.03%||Daily NAV Change (%) +0.12%|
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 -0.230%, as of 04/04/2019
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