EGB OPTIONS: Bund put spread seller
Mar-18 08:54
RXM2 165.00/156.00ps 1x2.25, sold at 357 in 4k (4k x 9k)
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Historical bullets
ESM ISSUANCE: 0% Dec-26 syndicated tap: Update
Feb-16 08:53
- Spread set at MS-20bps (guidance was MS-17bps area)
- Size: E2.0bln WNG
- Books over E25bln excl. JLMs
- ISIN: EU000A1Z99N4
- JLM: BofA Securities (B&D), Commerzbank and Morgan Stanley
- Books to close at 09:30GMT / 10:30CET
From market source
EGB SYNDICATION: Slovenia: Dual-tranche syndication
Feb-16 08:38
- 2.25% Mar-32 SLOREP tap:
- Tap Size: EUR Benchmark
- Maturity Date: 03 March 2032
- Current Outstanding: E2.35bln
- Guidance: MS+15bps area
- ISIN: SI0002103602
- 0.4875% Oct-50 SLOREP tap:
- Tap Size: EUR Benchmark
- Maturity Date: 20 October 2050
- Current Outstanding: E1.25bln
- Guidance: MS+70bps area
- ISIN: SI0002104048
- Joint Bookrunners: Barclays, BNP Paribas, Credit Agricole CIB (B&D), Deutsche Bank, Erste Group and J.P. Morgan
- Settlement Date: 23 February 2022
- Timing: Books open, today's business
From market source
What to watch
Feb-16 08:28
Russia-Ukraine headlines again likely to be the main catalyst for markets today. Some positive follow through to Asian markets and again this morning in early morning European trading, but markets still a little apprehensive about the situation and recoveries in equity markets are a little subdued. Eurodollar futures are a little lower, but Euribor and SONIA futures are higher on the day.
- On the data calendar we have already received UK CPI (a tenth higher than expected, but partly driven by clothing which could show a reversal next month). Later today we will receive US retail sales data (13:30) alongside Canadian inflation data and later US industrial production data.
- For Canadian inflation, consensus is for headline to have held steady at 4.8% Y/Y (average 4.85%) on a non-seasonally adjusted increase of 0.6% M/M, but with reasonable dispersion within the range of 13 estimates. The Bank of Canada expect headline inflation "to remain close to 5% over the first half of 2022." For our full Canada CPI preview see part 1 and part 2.
- We will also receive the FOMC Minutes later with focus on any views on the likelihood of a 50bp March hike and the pace of tightening in the near-term as well as further details on the expectations for balance sheet roll-off.
