EUROPEAN INFLATION: Energy Drives Upward Revision To Italian June HICP
Jul-16 11:46
Italian final June HICP was revised up a tenth on a rounded basis to 1.8% Y/Y (vs 1.7% in May). Ener...
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MNI EXCLUSIVE: Alberta Premier Smith On Wildfires, Pipelines
Jun-16 11:43
MNI spoke with Alberta Premier Danielle Smith about the Canadian province's plan to build energy pipelines to the Pacific and Arctic coasts, and on the impact of recent wildfires on energy production and the economy as the central bank weighs another rate cut. On MNI Main Policy Wire now, see sales@marketnews.com for details.
PIPELINE: Corporate Bond Roundup: EIB, IBK, Hungary on TAP
Jun-16 11:28
- Date $MM Issuer (Priced *, Launch #)
- 06/16 $Benchmark EIB 7Y SOFR+53a
- 06/16 $Benchmark IBK 3Y SOFR+58a, 5Y +45a
- 06/16 $Benchmark Hungary +5Y, +10Y, +30Y
- 06/13 No new issuance Friday, $22.8B total on week
OUTLOOK: Price Signal Summary - Bund Support Remains Intact
Jun-16 11:14
- In the FI space, Bund futures have traded lower today, extending the reversal from Friday’s session high. For now, the move down is considered corrective and key short-term support to watch lies at 130.12, the Jun 5 low. A break of this level would highlight a stronger reversal and undermine the bullish theme. Key short-term resistance and the bull trigger, has been defined at 131.95, the Jun 13 high.
- A bullish condition in Gilt futures remains intact and Friday’s steep sell-off from the session high is for now, considered corrective. The move higher last week marks an extension of the recent breach of resistance at 91.87, the May 20 high. This signals scope for a test of 93.73, a 1.764 projection of the May 22 - 27 - 29 price swing. Note the uptrend is in overbought territory, a deeper pullback would unwind this position. First firm support lies at 92.04, the 20-day EMA.
