POWER: Austria Unveils €500m Power Subsidy Funded by State Assets
Dec-04 15:35
Austria is preparing a €500mn electricity subsidy to ease power costs for households and businesses, the government said, cited by Bloomberg.
- Funding will come from state-asset manager OeBAG, which will supply €100mn from retained earnings.
- While Verbund will contribute €200mn through the state’s share of a planned special dividend and Bundesimmobiliengesellschaft (BIG) adding another €200mn
- The government said the measure won’t require new taxes or add pressure to the national budget.
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US TSYS: Extending Session Highs
Nov-04 15:33
- Treasuries have extended early session highs - apparently following German Bund lead as it tests overnight high again. The Dec'25 10Y contract still off late overnight high of 112-28.5 at 112-27.5 (+6) on robust volumes over 680k at the moment.
- The contract needs to trade above 113-18+, the Oct 28 high to signal a possible bullish reversal. Key resistance and the bull trigger is at 114-02, the Oct 17 high. Curves mildly steeper: 2s10s +.173 at 50.559, 5s30s +.674 at 97.305.
- No particular headline driver as desks loosely cite risk-on unwind interest as stocks trade weaker (but off lows) after the open.
EUR: FX Exchange Option trades for more
Nov-04 15:29
EURUSD (6th Mar) 1.1800c, bought for 0.008 and 0.0076 in 5.1k total.
PIPELINE: Corporate Bond Update: $700M Jordan 7Y Launched
Nov-04 15:25
- Date $MM Issuer (Priced *, Launch #)
- 11/04 $800M Breakwater Energy 5NC2 9%a
- 11/04 $700M #Hashemite Kingdom of Jordan 7Y 5.95%
- 11/04 $700M Wayfair 7NC3
- 11/04 $500M #Sharjah Islamic Bank 5Y Sukuk +95a
- 11/04 $Benchmark Lao People's Democratic Rep 5Y 11.25%a
- 11/04 $Benchmark Standard Chartered Perp NC10 7.375%
- 11/04 $Benchmark QBE Insurance 12NC7 +170a
- 11/04 $Benchmark Westlake Corp 10Y +175a, 30Y +200a
- 11/04 $Benchmark Entergy 30.5NC5.25 6.125%a, 30.5NC10.25 6.375%a
