OPTIONS: Europe Options Flow Leans Dovish Thursday
Jun-18 16:52
Thursday's Europe rates/bond options flow included: * ERU6 97.50/56/62 cfly ppr pays 0.25 for 5k * ...
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JAPAN: BOJ to Work With Government on JGB Market Situation
May-19 16:49
- Additional headlines from BOJ Governor Ueda via Reuters:
- "WILL TAKE APPROPRIATE MONETARY POLICY TO ACHIEVE INFLATION TARGET"
- "WILL CLOSELY WORK WITH THE GOVERNMENT ON JGB MARKET SITUATION"
PIPELINE: Corporate Bond Update: $2B Mobility Launched, Updated Guidance
May-19 16:42
- Date $MM Issuer (Priced *, Launch #)
- 05/19 $4B *ADB 5Y SOFR+29
- 05/19 $2B #Mobility Global $650M 3Y +88, $650M 5Y +115, $700M 10Y +142
- 05/19 $1.25B *OKB 3Y SOFR+24
- 05/19 $1B *Munifin WNG 5Y SOFR +34
- 05/19 $1B #Xylem $500M 7Y +75, $500M 10Y +80
- 05/19 $750M FMC Corp 5NC2
- 05/19 $500M #Golub Capital 5Y +220
- 05/19 $Benchmark CCDJ 5Y +95a
- 05/19 $Benchmark SocGen 6NC5 +105
- 05/19 $Benchmark Ford Motor Cr 10Y +205a
- 05/19 $Benchmark Pricoa Global Funding 5Y +68
- 05/19 $Benchmark Baltimore G&E 7Y +95a, 30Y +115a
- 05/19 $Benchmark Ecolab 3Y +43, 5Y +53, 7Y +68, 10Y +73
- 05/19 $Benchmark Georgia Power 1.5Y SOFR+42, 3Y +42, 03/31 tap +50
- Expected this week:
- 05/20 $Benchmark Japan Int Co-Op Agy (JICA) 5Y SOFR+54a
- 05/20 $Benchmark IDB Invest 5Y SOFR+37a
- 05/20 $Benchmark Canada 5Y +5a
- 05/20 $750M RR Donnelley 5NC2
US 10YR FUTURE TECHS: (M6) Bearish Cycle Extends
May-19 16:23
- RES 4: 111-03+ High May 7
- RES 3: 110-29 50-day EMA
- RES 2: 110-00+/110-10+ Low May 4 / 20-day EMA
- RES 1: 109-24 Low Mar 27
- PRICE: 108-20+ @ 17:12 BST May 19
- SUP 1: 108-18 Low May 19 & 1.382 proj of the Apr 17 - May 4 - 7 price swing
- SUP 2: 108-00 Round number support
- SUP 3: 107-27+ 1.764 proj of the Apr 17 - May 4 - 7 price swing
- SUP 4: 107-13+ 2.000 proj of the Apr 17 - May 4 - 7 price swing
A bearish theme in Treasuries remains intact and today’s fresh cycle low reinforces current conditions. Note that moving average studies remain in a bear-mode position, highlighting a dominant downtrend. The bear trigger at 109-24, the Mar 27 low, and the 109-00 handle, have been cleared. A continuation lower would open the 108-18, a Fibonacci projection. Initial firm resistance to watch is the 20-day EMA, at 110-10+.
