- Equities volumes are lower and spreads are wider, ond volumes are significantly down week-on-week.
- The average cost of credit protection for Financials rose by 0.4%, yet Energy Stocks were up 12.1%
- Germany Inflation data on Wed, BoE interest rate decision, and GDP growth data on Thurs.
- EU axe data, which is within normal ranges, suggests a stronger proportion of EU dealer asks Vs bids of credit
- GDP axe data, within normal ranges, suggests much higher net selling Vs buying of credit.
Europe / UK
- Equities volumes are up and spreads are tighter, whereas bonds ond volumes are lower week-on-week.
- The average cost of credit protection for Financials rose by 7.4% and implied volatility was up 8.7%.
- To look out for Regional banks’ shocks, data on US inflation, and CPI on Wednesday. PPI and Jobless Claims on Thursday.
- US axe data, which is within normal ranges, indicates a higher proportion of asks versus bids of credit.