February 17, 2014 / 8:46 AM / 4 years ago

Earnings to weigh on European weekly credit supply

LONDON, Feb 17 (IFR) - A traditional mid-February issuance lull is likely to continue this week with the corporate earnings season and half term school holidays expected to put a dampener on activity while the US is shut today for Presidents' Day.

The average supply forecast for euro, sterling and Swiss franc denominated European credit - excluding sovereign, state and agency notes - stands at EUR14.5bn for this week. Last week's supply came in just short of EUR16.5bn equivalent, overshooting estimates by just over EUR3bn.

The highest estimate range for the coming week is EUR14-19bn and the lowest EUR12bn.

A little more than half of European corporates have so far reported quarterly earnings. (Reporting By Helene Durand, writing by Josie Cox)

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