EM LATAM CREDIT: Banco Industrial: $ 10.25NC5Y Sub Tier 2 Guidance
Jan-08 18:52
(BANGUA; Ba3/BB+/BB+) Guidance: 6.65%a (+/-5) IPTs: 7% Area FV: 6.85% * Please see our earlier fai...
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LOOK AHEAD: Wednesday Data Calendar: Final FOMC Policy & SEP for 2025
Dec-09 18:38
- US Data/Speaker Calendar (prior, estimate). All times ET
- 12/10 0700 MBA Mortgage Applications (-1.4%, --)
- 12/10 0830 Employment Cost Index (0.9%, 0.9%)
- 12/10 1130 US Tsy $69B 17W bill auction
- 12/10 1400 FOMC policy annc, includes summary of economic projections
- 12/10 1400 Monthly Tsy statement
- 12/10 1430 Fed Chair Powell press conf
- Source: Bloomberg Finance L.P. / MNI
OPTIONS: Continued Upside Lean In Rates, German Bond Options Tuesday
Dec-09 18:34
Tuesday's Europe rates/bond options flow included:
- OEF6 116/115.5ps, sold at 20 and 19.5 in ~9.7k
- RXG6 128/129.50cs 1x2, bought for 22.5 in 3k
- ERF6 98.0625/98.1875/98.3125c fly vs 97.9375/97.875ps, bought the ps for 1.25 in 5k
- ERH6 98.0625/98.1875/98.3125c fly, bought for half in 3k
- ERH7 98.50 call, paper pays 4.5 for 10k
- SFIH6 96.55/96.65cs, bought for 1.5 in 7.6k
GBPUSD TECHS: Bull Flag
Dec-09 18:30
- RES 4: 1.3471 High Oct 17
- RES 3: 1.3452 50.0% retracement of the Sep 17 - Nov 4 bear leg
- RES 2: 1.3416 High Oct 21
- RES 1: 1.3385 High Dec 04
- PRICE: 1.3314 @ 16:35 GMT Dec 09
- SUP 1: 1.3267 50-day EMA
- SUP 2: 1.3235 20-day EMA
- SUP 3: 1.3180/25 Low Dec 2 / Low Nov 26
- SUP 4: 1.3038/10 Low Nov 20 / Low Nov 4 & 5 and the bear trigger
A bull theme in GBPUSD remains intact. The latest pause appears to be a flag formation - a bullish continuation signal. The breach of the 50-day EMA undermines a recent bearish theme and highlights a stronger reversal. This paves the way for an extension towards 1.3452, a Fibonacci retracement point. Initial firm support is seen at 1.3235, the 20-day EMA. A move below this average would be a bearish development.
