EU CREDIT SUPPLY: Banca Sella €300 5NC4 Sr Pref - Final Terms
Jul-02 09:59
- FT: MS+130
- Books >€860m from €600m
- IPT: MS+160
- FV: MS+120
- Exp Ratings NR/BBB-/NR
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
OUTLOOK: Price Signal Summary - Pullback In EUROSTOXX50 Appears Corrective
Jun-02 09:53
- In the equity space, the trend condition in S&P E-Minis remains bullish. Last Thursday’s initial gains delivered a print above 5993.50, the May 20 high and a bull trigger. The break highlights a resumption of the uptrend and maintains a price sequence of higher highs and higher lows. 6000.00 has been pierced, an extension would open 6057.00 next, the Mar 3 high. Key support lies at 5742.22, the 50-day EMA.
- The trend cycle in EUROSTOXX 50 futures is unchanged, it remains bullish and recent weakness appears corrective. Moving average studies are in a bull-mode position, highlighting a clear dominant uptrend. Sights are on 5516.00, the Mar 3 high and the key bull trigger. Clearance of this level would strengthen a bull theme. Key support to watch lies at 5254.09, the 50-day EMA. A clear break of this average would signal a possible reversal.
FOREX: USDCAD Approaches 1.3643 Support, Set for Lowest Close Since October
Jun-02 09:51
- While the Canadian dollar relatively underperforms on Monday, it has extended its impressive advance during Friday’s session, following a robust set of GDP data across Q1 and an associated trimming of cut expectations for this week’s BOC decision. Market pricing now assigns just a ~20% chance of a cut, compared to ~28% prior to Friday’s release.
- Price action backs up the prevailing bear trend for USDCAD (-0.31%) - through which a sell-on-rallies theme clearly persists – evidenced by the 20-day EMA capping the pair’s gains well last week.
- Sights are on 1.3643 next, the Oct 9 low/Sep high. Below here, attention will be on 1.3579, the 1.5 Fibonacci projection of the Feb 3 - 14 - Mar 4 price swing, before the September lows at 1.3420 will garner attention.
- Scotiabank believe the BOC’s case for holding the policy rate is based on much more than last week’s GDP data, explaining that cutting due to the latest inflation & jobs data or demand side risks has little merit. Scotiabank points to inflation expectations remaining elevated, tariff related risks and the fact the markets aren’t pressuring the BOC as bolstering the case for a hold.
- Additionally, while Goldman Sachs think CAD could benefit from a slightly more hawkish BOC in the very near-term, they believe better growth will be the larger positive impulse for the currency in the medium-term.
DUTCH T-BILL AUCTION RESULTS: 4/6-Month DTCs
Jun-02 09:44
| Type | 4-month DTC | 6-month DTC |
| Maturity | Sep 29, 2025 | Nov 27, 2025 |
| Amount | E1.27bln | E1.43bln |
| Target | E1.0-2.0bln | E1.0-2.0bln |
| Previous | E1.94bln | E1.3bln |
| Avg yield | 1.915% | 1.895% |
| Previous | 1.990% | 1.909% |
| Bid-to-cover | 2.92x | 1.81x |
| Previous | 2.23x | 2.21x |
| Previous date | May 06, 2025 | May 06, 2025 |
