EU CREDIT SUPPLY: CREDIT SUPPLY: Co-operative Bank (Ba2*+): Guidance
Jun-13 07:58
"*GUIDANCE: CO-OPERATIVE BANK £BMARK 3Y COVERED FRN SONIA+58 AREA" - bbg
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EUROZONE ISSUANCE: EU-bond 30-year Syndication: Final Terms
May-14 07:56
- EU6b WNG Long 30Y Fixed (Oct. 5, 2054) at MS+88
- Guidance MS+91 area
- Books above EU74b (including JLM interest): Leads
- Coupon: Annual, act/act ICMA, short first
- Issuer: European Union (EU)
- Format: Reg S CAT1, bearer, senior unsecured, 0% rw
- Settlement: May 21, 2024
- Denoms: 1
- ISIN: EU000A3K4EY2
- Bookrunners: CA-CIB, GS, MS, NatWest Markets (B&D), Santander
- Target Market: Eligible counterparties, professional clients and retail clients (all distribution channels)
Details as per Bloomberg
BOE: Pill Stresses More Work To Do In Fight Against Inflation
May-14 07:56
No real change in tone in the initial remarks from BoE chief economist Pill, as we suggested would be the case.
- Pill stresses that although the Bank is making good progress on returning inflation to target, there is still work to do. He also warns that negative CPI base effects from energy prices are about to be removed.
- Pill previously pointed to the need to focus on underlying CPI measures, warning of the need to avoid being “seduced” by headline inflation metrics.
- That leaves gilts and SONIA markets roughly in line with levels flagged earlier.
- BoE-dated OIS prices near 50/50 odds of a June cut and 55.5bp of easing through year end.
BONDS: Futures are ticking higher
May-14 07:54
- Govies are breaking out of their super tight early ranges, TYM4 still trades in a 4.5 ticks, but some small buying emerging, bought in 3k cumulative volume helping the contract higher.
- Bund has also in turn broken back above the 131.00 figure, but the very low liquidity helps exacerbate the moves, taking very little in terms of order size to move markets.
- Gilt, BTP and OAT are seeing similar small bids.
