PIPELINE: Corporate Bond Roundup: IBM 5Pt, MS, JPM & Capital One on Tap
Jan-29 13:19
* Date $MM Issuer (Priced *, Launch #) * 01/29 $1.21B Azul Secured Finance 5NC2 * 01/29 $1B CVR Ener...
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OUTLOOK: Price Signal Summary - Bear Threat In Bunds Remains Present
Dec-30 13:17
- In the FI space, despite recent gains Bund futures remain in a clear downtrend and the latest move higher appears corrective. Recent weakness confirmed a resumption of the downtrend, signalling scope for a move towards 126.53, the Mar 11 low (cont.). Initial firm resistance is seen at 127.86, the 20-day EMA. A break of this average would signal the start of a stronger correction. The bear trigger is 126.75, the Dec 22 low.
- Recent price action in Gilt futures highlights 90.50, the Dec 16 low, and 91.93, the Nov 27 high, as two important short-term directional triggers. A clear breach of support at 90.50 would signal scope for a deeper retracement towards 89.86, the Nov 19 low and a bear trigger. For bulls, a stronger resumption of gains and a breach of 91.93, would instead signal scope for a climb towards resistance at 92.55, the Nov 11 high.
STIR: Repo Reference Rates
Dec-30 13:14
- Secured Overnight Financing Rate (SOFR): 3.77% (+0.01), volume: $3.346T
- Broad General Collateral Rate (BGCR): 3.75% (+0.01), volume: $1.325T
- Tri-Party General Collateral Rate (TCR): 3.75% (+0.01), volume: $1.293T
- (rate, volume levels reflect prior session)
EGB OPTIONS: RXG6 126.50/126.00 Put Spread Lifted
Dec-30 13:11
RXG6 126.50/126.00 put spread paper paid 10 vs 127.53 on 7.2K.
