ENERGY: US Considers Financial Sanctions on Russia's Gazprombank
Nov-15 09:35
The U.S. President Joe Biden administration is considering additional financial sanctions on Russia to restrict energy trade, according to Nikkei sources.
- The measure, to be decided by the end of this month at the earliest, moves to prohibit U.S. banks from dealing with with energy-related lender Gazprombank.
- Hungarian Prime Minister Viktor Orban however said the EU needs to reconsider sanctions against Russia. He said sanctions were keeping energy prices elevated, hindering the bloc's economic competitiveness, according to Reuters.
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GERMAN AUCTION RESULTS: 0% Aug-50 Bund / 2.50% Aug-54 Bund
Oct-16 09:34
| 0% Aug-50 Bund | 2.50% Aug-54 Bund | |
| ISIN | DE0001102481 | DE000BU2D004 |
| Total sold | E1bln | E1bln |
| Allotted | E822mln | E854mln |
| Previous | E0.798bln | E0.820bln |
| Avg yield | 2.46% | 2.49% |
| Previous | 2.41% | 2.44% |
| Bid-to-offer | 1.84x | 3.10x |
| Previous | 1.76x | 2.23x |
| Bid-to-cover | 2.24x | 3.63x |
| Previous | 2.21x | 2.72x |
| Avg price | 53.39 | 100.23 |
| Low price | 53.38 | 100.22 |
| Pre-auction mid | 53.297 | 100.105 |
| Prev avg price | 53.84 | 101.33 |
| Prev low price | 53.83 | 101.33 |
| Prev mid-price | 53.730 | 101.226 |
| Previous date | 14-Aug-24 | 18-Sep-24 |
EQUITIES: EU Bank block trade
Oct-16 09:28
EU Bank Block trade, suggest seller:
- CAZ4 10k at 144.60.
EGBS: Stronger Following UK CPI, European Equity Pullback
Oct-16 09:26
EGBs have taken cues from Gilts and European equities this morning, with today’s regional macro calendar limited.
- Lower-than-expected UK CPI drove the initial bid in Bund futures, while European stocks remain under pressure following yesterday’s weaker-than-expected LVMH and ASML earnings.
- Bund futures are +25 at 134.00, a little above the first resistance at the 20-day EMA. A clear break of this average is required to counter a bearish technical theme.
- 10-year peripheral spreads to Bunds have narrowed away from opening wides, with the BTP/Bund spread now little changed at 124bps (the spread closed at its tightest since mid-March yesterday at 123.5bps).
- Italian Finance Minister Giorgetti is currently delivering a press conference on the 2025 budget, which was approved by the Cabinet last night.
- 30-year Bund supply is due at 1030BST/1130CET.
