HUNGARY: EURHUF Briefly Trades Above 401.00 Amid Drop in Turkish Assets
Mar-19 08:27
- Contagion from the sell-off in Turkish assets (see more above) has worked against the Hungarian forint this morning. EURHUF rallied around 0.9% at the start of the session, taking the cross above the 401.00 handle. Gains have since moderated alongside the partial recovery in the lira, though EURHUF remains 0.35% firmer at typing.
- The Minister of Foreign Affairs and Trade, Peter Szijjarto, said yesterday that the "declaration on the pause in attacks on energy infrastructure is especially good news to us, and we hope that the warring sides will both respect it." He said that "the American and Russian presidents made another big step forward towards peace and we hope that Brussels will not be able to thwart efforts aimed at brokering a peace agreement".
- Prime Minister Viktor Orban leads a weekly government meeting this afternoon. No major data releases are scheduled for today, with March economic sentiment figures due later in the week.
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ESM ISSUANCE: E2bln WNG 10-year Benchmark
Feb-17 08:25
We had expected a transaction to take place today or tomorrow, and had pencilled in a E2-3bln size. The maturity of 10-years is broadly in line with our expectations, as the ESM hasn’t issued a bond with longer than 10.5 years to maturity since 2018.
Details below as per Bloomberg:
- EU2b WNG 10Y Fixed (Feb. 26, 2035) MS+45 Area.
- Coupon: Annual, act/act, long first
- Settlement: Feb. 24, 2025
- ISIN: EU000A1Z99W5
- Bookrunners: BofA (B&D), DB, Santander
- Timing: May price today.
MNI EXCLUSIVE: MNI speaks to Fudan University researcher about PBOC policy
Feb-17 08:21
MNI speaks to Fudan University researcher and central bank advisor Sun Lujian about PBOC policy --- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
CROSS ASSET: The Dollar finds a broader bid
Feb-17 08:12
- The Dollar finds a broader bid, price action is mostly Germany Long end led, 10yr and 30yr, although similar drag lower are witnessed in shorter End STIR contracts.
- The push in Tnotes (higher Yield) sees the Dollar testing intraday highs against the INR, MXN, KRW, CNY, CZK, EUR, PLN, ZAR, CAD, while JPY, CNH, AUD and NZD are seeing some offers.
- Bund is so far finding some support right on the 2.50% Yield level, 2.499% is the printed high.
