Recap and Forecast
North America
- Last Week equities volumes were low, and spreads were wide. Bond spreads are marginally tighter week on week.
- To look out for this week – US Debt Ceiling talks and AGM meetings, such as Deutsche Bank, BNP Paribas, and JP Morgan.
- Data on US Retail Sales, Manufacturing, and Production on Tuesday and Jobless Claims Thursday.
- US axe data, which is within normal ranges, indicates a higher proportion of bids versus asks in credit going into the week ahead.
Europe and UK
- Equities volumes were low and spreads were tighter week on week. Bond volumes are up week on week but spreads are tighter.
- To look out for – AGM Meetings: Traders could assess any surprises and the EU banking sector’s stability.
- EU / UK employment data, UK Payrolls, Eurozone GDP on Tues, and EU inflation rate on Wednesday.
- EU axe data, which is within normal ranges, suggests a higher proportion of EU dealer asks versus bids in credit.
- GBP axe data, within normal ranges, suggests much higher net buying Vs selling of credit.
