EU-RUSSIA: EUCO-We Will Never Recognise Illegal Annexation Of Ukraine Territory

Sep-30 12:53

European Union member states have released a joint statement condemning Russia's proposed annexation of four Ukrainian oblasts, stating that "We will never recognise this illegal annexation."

  • Full statement: https://www.consilium.europa.eu/en/press/press-rel...
  • "We firmly reject and unequivocally condemn the illegal annexation by Russia of Ukraine's Donetsk, Luhansk, Zaporizhzhia and Kherson regions...We will never recognise this illegal annexation. These decisions are null and void...Crimea, Kherson, Zaporizhzhia, Donetsk and Luhansk are Ukraine...The nuclear threats made by the Kremlin, the military mobilisation and the strategy of seeking to falsely present Ukraine's territory as Russia's and purporting that the war may now be taking place on Russia's territory will not shake our resolve.We will strengthen our restrictive measures countering Russia's illegal actions."

Historical bullets

PIPELINE: Issuers Gradually Return

Aug-31 12:53
  • Date $MM Issuer (Priced *, Launch #)
  • 08/31 $1B OKB WNG 5Y SOFR+45a
  • 08/31 $Benchmark Nordic Investment Bank 5Y SOFR+37
  • 08/31 $Benchmark Korea Development Bank (KDB) 3Y +90a, 3Y SOFR, 10Y +140a
  • 08/30 $Benchmark Korea Development Bank (KDB) investment calls

US TSY FUTURES: Post-ADP React, Pass the Salt

Aug-31 12:25

Tsys blipped off lows after latest ADP came out lower than expected (+132k vs. +300k est) - quickly discounted, however, as Tsys reverse move back to pre-release levels. Short end Eurodollar futures reacted similarly (trading higher in Whites through Greens) with gains more slowly receding. Focus turns to MNI Chicago PMI (52.2 est) at 0945ET

STIR: BLOCK, SOFR Skew Play

Aug-31 12:15
  • 3,500 SFRH3 96.25/96.50 put spds 3.5 over 96.75 calls at 0810:43ET ref 96.12