NORGES BANK: Barclays: Looks for 50bps and a Higher Rate Path
Jun-22 11:55
- Calls for a 50bp hike at the June meeting with Norges revising up the entire rate path.
- We expect growth forecast to be revised down slightly, with a sizable upward revision in its inflation forecast. Markets are not pricing Norges as aggressively as for other central banks. We think there is room for NOK to recover from its current depressed level, but the currency still faces headwinds from deteriorating global risk sentiment.
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US EURODLR OPTIONS: Midcurve Put Spd
May-23 11:50
- Block, 5,000 short Jul 96.25/96.62 put spds, 10.0 vs. 96.785/0.20% at 0745:18ET
US TSYS: Eurodollar/Tsy/SOFR Option Trade Roundup
May-23 11:32
Overnight trade:
- SOFR Options
- 4,000 SFRZ2 97.25/97.37/97.50 put flys
- Eurodollar Options:
- 10,000 short Jun 96.50 puts
- +5,000 short Jun 96.50/96.62 2x1 put spds, 1.5 vs. 96.685/0.33%
- Blocks, total 26,580 Sep 97.62 calls, 10.0 vs. 97.38/0.33%
- Treasury Options:
- 3,300 TYN 121.5 calls, 21 ref 119-18.5
- +2,000 TYU 122/123 call spds, 15 vs. 120-01/0.07%
- +10,000 FVN 114 calls, 14.5 ref 112-27.25
EGB SYNDICATION: Republic of Italy 15yr benchmark: €5bln no grow
May-23 11:31
- The Republic of Italy, rated Baa3(stable)/BBB(pos)/BBB(stable)/BBBH(stable) (Moody's/S&P/Fitch/DBRS). has mandated Barclays, Goldman Sachs Bank Europe SE, J.P. Morgan, Nomura and UniCredit to joint lead manage a new euro 15 year benchmark (€5bn no grow).
- Maturity date will be 1st March 2038.
- The transaction is expected to be launched in the near future subject to market conditions.
- All other Specialists will be invited as Co-Lead Managers. Reg S, 144A Eligible, CACs. FCA/ICMA stabilisation.
- Manufacturer target market (MIFID II/UK MiFIR product governance) is eligible counterparties, professional and retail (all distribution channels).
- From market source
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