Crédit Agricole maintains a steepener preference ahead of the ECB meeting, anticipating a 25bp hike. The report reviews YTD EGB issuance and offers initial supply projections for 2027.
Key Takeaways
- 1.Maintaining preference for steepeners ahead of ECB meeting; base case is 25bp hike.
- 2.YTD EGB issuance pace is led by France and Spain (>60%), while Germany lags (<50%).
- 3.First look at 2027 German and Italian supply figures provided.
Table of Contents
- Supply shock?
- Recent publications
- Upcoming data highlights
- EUR Rates Dashboard
- USD Rates Dashboard
- Interest Rates Research advanced tools
- Red Mount Analytics
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Authors
Riccardo LamiaAlex LiJean-François PerrinGuillaume MartinMatthias Loise
Securities
BTP 3.00% 09/29T 5.00% 05/56
Themes
ECB Policy ExpectationsSovereign Debt Issuance
Regions
EuropeGermanyFranceSpain