Recently, the euro credit market has been stable, but the upcoming data releases will be crucial in the next few days.

The immediate focus is on eurozone unemployment data and the weekly US unemployment benefit claims (at 13:30 Beijing time). However, honestly, the real market mover will be the US non-farm payroll report on Friday — this report directly reflects the health of the labor market and can also indicate whether the Federal Reserve will continue to cut interest rates or hold steady.

According to the latest data from S&P Global Market Intelligence, the iTraxx Europe Crossover index, which measures the credit risk of euro junk bonds, remains stable at 243 basis points, with no fluctuations. The iTraxx Europe Main index for investment-grade bonds also held steady at 50 basis points. This suggests that market sentiment remains relatively stable, and everyone is waiting for data to decide the next move.