EM CEEMEA CREDIT: EMAAR: Talks on sale of Indian unit halted
May-30 09:58
EMAAR (EMAAR; Baa2/BBB+/BBB)
Talks on sale of Indian unit halted
“*ADANI, EMAAR SAID TO HALT TALKS ON INDIAN REAL ESTATE UNIT SALE” - BBG
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EGBS: Natixis Recommend SPGB 5s10s Flattener Boxed Vs. BTPs
Apr-30 09:55
Natixis recommend entering SPGB 5s10s flatteners boxed against BTP 5s10s steepeners.
- They believe that at the current juncture “the tightening potential of EGB spreads is limited. We even believe the pay-off of sovereign spreads is now asymmetrical with widening risks taking over at some point”.
- Natixis suggest that “BTPs look more vulnerable than SPGBs, with Spain set to remain the top macro performer of the Eurozone”, while noting that the Italian macro situation is closer to Germany’s.
- They also think that “the shape of the Italian curve does not properly reflect potential vulnerabilities”.
OPTIONS: Expiries for Apr30 NY cut 1000ET (Source DTCC)
Apr-30 09:53
- EUR/USD: $1.1375-95(E2.7bln), $1.1425(E500mln)
- USD/JPY: Y140.50($1.9bln), Y142.00($1.8bln), Y144.40-50($959mln), Y145.00($1.5bln), Y148.50($716mln)
- AUD/USD: $0.6115(A$1.1bln), $0.6250(A$702mln)
- NZD/USD: $0.5950(N$521mln)
JPY: Downside continuation for the Yen
Apr-30 09:50
- The Yen is still pushing lower, it's been a one way gradual move since Europe joined the session, and given the lack of movements in Risk or US Yield, the only notable Data point was the weaker Japanese IP and Retail Sales, although the Yen move was quite limited on the release.
- USD, EUR, GBP are testing new intraday highs, within G10, the Aussie is still the best performer against the Yen (and the USD), on the back of the Higher Inflation print Overnight.
