PIPELINE: Corporate Bond Roundup: $6.2B Global Payments 4Pt Launched

$7.85B total to price Tuesday:

• Date $MM Issuer (Priced *, Launch #)
• 10/07 $2.5B *Bank of England 5Y +8a
• 10/07 $1.75B *CPPIB 3Y SOFR+39
• 10/07 $1.75B #Angola $1B +5Y 9.25%, $750M 10Y 10.125%
• 10/07 $1.15B #TD Synnex $550M +3Y +75, $600M 10Y +118
• 10/07 $700M *Türkiye Garanti Bankası 10.5NC5.5 7.625%

• RES 4: 1.3789 High Jul 1 and key resistance    
• RES 3: 1.3726 High Sep 17 
• RES 2: 1.3661 High Sep 18
• RES 1: 1.3537 High Sep 23 and a pivot level 
• PRICE: 1.3439 @ 16:37 BST Oct 7
• SUP 1: 1.3324 Low Sep 25 and the bear trigger 
• SUP 2: 1.3282 Low Aug 6
• SUP 3: 1.3254 Low Aug 4
• SUP 4: 1.3144 38.2% retracement of the Jan 13 - Jul 1 bull cycle          

Short-term bearish conditions in GBPUSD remain in place - for now. Initial key resistance to watch is unchanged at 1.3537, the Sep 23 high and a near-term pivot level. Clearance of this hurdle would signal a potential reversal. Recent weakness resulted in the break of a trendline drawn from the Aug 1 low. A support at 1.3333, the Sep 3 low, has been pierced. A clear breach of this support would open 1.3282, the Aug 6 low.           

RRP usage retreats to new multi-year low of $4.622B (lowest level since early April 2021) with 14 counterparties this afternoon from $21.776B on Monday. Compares to this year's high usage of $460.731B on June 30.