EMISSIONS: EU Average Emissions From New Vans Rise In 2024
Jun-04 13:25
Average CO2 emissions from new vans in 2024 increased 2.5% from 180.8 g CO2/km in the prior year to the 185.4 g CO2/km, while the emissions from new cars remained at a similar level at 106.8 g CO2/km, according to the latest EEA data.
- The rise of emissions resulted from the decline share of electric cars, with the share of fully electric vans declining from 8.3% in 2023 to 6.4% in 2024, while the share of fully electric cars also declining from 15.5% to 14.5%.
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JPY: The Yen is now the best performer in G10
May-05 13:19
- Close to 150 pips range for the USDJPY, the Yen has taken over the AUD as the best performer in G10 against the Greenback.
- The cross has fully cleared Friday's low that was situated at 143.73, and the next support will now be seen at 142.88, last Thursday's low.
US TSYS: Surprise Corporate Issuance Weighs on Tsys
May-05 13:07
- On an otherwise quiet start to a FOMC week and spring holiday closures -- today's potential outsized corporate issuance from Apple Inc and Comcast likely tempered the recent bounce in Tsys - spec-tied selling ahead of rate lock hedging has pushed futures back near early overnight lows:
- Tsy Jun'25 10Y back to steady at 111-05 after rising to 111-13.5 (+8.5) ahead of the opening bell, early overnight low at 111-04.5. Initial technical support is at 111-02 (Low Mar 2 / 50-dma) followed by 110-30.5 (50-day EMA). A clear breach of this average would strengthen a bearish threat and expose 110-16+, the Apr 22 low.
PIPELINE: Corporate Bond Update: Apple Inc, Comcast Guidance & Historicals
May-05 12:57
- Apple and Comcast deals likely to lead today's corporate bond issuance. Estimates for Apple issuance range from $5-10B today based on issuance size and frequency over the last five years (though Apple did make it into the top 20 list of largest issuance with $17B on April 30, 2013).
- As for Comcast, estimate for today's 3pt deal is under $5B based on issuance over the last five years ($2-4B), though Comcast is in the top 10 largest issuance with $27B over 12 tranches on October 2, 2018 -- reportedly for Sky PLC financing.
- Date $MM Issuer (Priced *, Launch #)
- 05/05 $Benchmark Apple Inc 3Y +45a, 5Y +50a, 7Y +60a, 10Y +70a
- 05/05 $Benchmark Comcast 7Y +115a, 10Y +130a, 30Y +155a
- 05/05 $Benchmark American Int Group 5Y, 10Y, details TBA
- 05/05 $Benchmark ADP 7Y +80a
