TARIFFS: Attention Turns To Other Tariff Means, Refunds, Trade Deals
Feb-20 15:20
The dissent by Justice Kavanaugh conveniently sums up some of the major issues to contend with in th...
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PIPELINE: Corporate Bond Update: US Bancorp, CIBC, KeyCorp Issuing Debt
Jan-21 15:17
- Date $MM Issuer (Priced *, Launch #)
- 01/21 $3.5B #Ontario 3Y SOFR+34
- 01/20 $500M #Israel Electric Corp WNG 12Y +135
- 01/21 $Benchmark PNC Financial Services 3NC2 +75a, 3NC2 SOFR, 15NC10 +145a
- 01/21 $Benchmark US Bancorp 6NC5 +90a, 6NC5 SOFR, 11NC10 +105a
- 01/21 $Benchmark CIBC 4NC3 +90a, 4NC3 SOFR
- 01/21 $Benchmark KeyCorp 11NC10 +135a
- 01/21 $Benchmark Nielsen 7NC3
- 01/21 $650M Petco 5NC2
- May price tomorrow
- 01/22 $Benchmark CADES 5Y SOFR+60a
- 01/22 $Benchmark ADP 5Y SOFR+31
- 01/22 $500M Hillenbrand 7NC3
US TSYS: Post Construction Spending/Pending Home Sales React
Jan-21 15:04
- Little reaction to higher than expected Construction Spending, sharp decline in Pending Home Sales data
- TYH6 +2 at 111-15.5 vs. 111-12.5 low. Curves mildly steeper: 2s10s +0.036 at 69.397 vs. 68.014 low; 5s30s +.705 at 106.487 vs. 105.254 low.
US-EU: European Parliament Formally Suspends Trade Deal Process
Jan-21 15:04
Chair of the European Parliament's Trade Committee, German MEP Bernd Lange, posts on X: "Now official: EU-US deal is on hold until further notice! Our negotiating team just decided to suspend work of [the trade committee] on the legal implementation of Turnberry deal. Our sovereignty and territorial integrity are at stake. Business as usual impossible". Speaking to Euractiv over the weekend, Lange said the deal should be halted, and the EU should utilise the Anti-Coercion Instrument against the US over its Greenland rhetoric and tariff threats.
- A number of MEPs have raised the objection that the imposition of 10% (rising to 25%) tariffs on certain EU member states over their Greenland stance would be in breach of the deal, which already has tariffs set at 15% and has been criticised in some quarters for being too unbalanced in favour of the US.
- The suspension of the approval process is not a surprise, with the leader of the largest group in the EP, the centre-right European People's Party (EPP), Manfred Weber said the deal “is not possible at this stage”. Given that the EPP is usually one of the most pro-trade deal groups in the parliament, its support for the suspension of the approval process marks a notable change in tone.
