EM CEEMEA CREDIT: EDVLN: new issue deal priced
May-22 07:20
Endeavour Mining (EDVLN; -/BB-neg/BB)
New issue deal: USD500mn 5NC2 deal
“PRICED: Endeavour Mining $500m 5NC2 at 98.967 to Yield 7.25%” - BBG
IPT was at high 7% yield
FV at 6.50% yield area
Our FV considerations in our note from yesterday:
https://mni.marketnews.com/3Zt91pL
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Historical bullets
EURIBOR OPTIONS: Early upside are favoured
Apr-22 07:19
ERZ5 98.75/99.00/99.25c fly, bought for 2.25 in 8k.
USDCAD TECHS: Trend Needle Points South
Apr-22 07:17
- RES 4: 1.4415 High Apr 1
- RES 3: 1.4296 High Apr 7
- RES 2: 1.4180 50-day EMA
- RES 1: 1.3906/4052 High Apr 17 / 20-day EMA
- PRICE: 1.3812 @ 08:16 BST Apr 22
- SUP 1: 1.3781 Low Apr 21
- SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
- SUP 3: 1.3696 Low Oct 10 2024
- SUP 4: 1.3643 Low Oct 9 ‘24
A bearish theme in USDCAD remains intact for now. Fresh trend lows continue to highlight a resumption of the downtrend and signals scope for a continuation near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Moving average studies are in a bear -mode position, highlighting a dominant downtrend. First resistance to watch is 1.4052, the 20-day EMA.
EQUITIES: Estoxx futures is paring gains
Apr-22 07:14
- The bid in Estoxx futures has lacked traction, after Cash Equities gapped lower on the Open, caught up with some of the price action seen in Futures.
- Estoxx futures continues to trade within that 135 points range seen last Week, less volatile to some of the US Equity sessions.
- Last Week's range of 4786.00/4921.00 (low/high) will be seen as the first support/resistance.
