Strategy: Credit squeezing into central banks – what next? Utilities: Fitch Ratings affirms Enel at BBB+. What's going on in EUR credit: • Non-Financials tightened by 5bp yesterday on the back of a hawkish ECB. • While Financials, Autos and Leisure outperformed tightening 7bp. • Financials outperform on the week tightening 6bp, versus 2bp in non-financials. What's going on in USD credit: • Continued tightening yesterday with Non-Financials & Financials tightening by 4bp. • Leisur...
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