COMMUNICATIONS: Eutelsat (ETLFP: B1/B/BB) 3Q24-25

May-16 07:38

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Equity down as company did not rule out equity issuance in the call. * Total revenues 300m down 2.2...

Historical bullets

JPY: USDJPY is eyeing the April low, lowest since September

Apr-16 07:36
  • Watch the USDJPY here, as just noted in the Gold comment, CHF and JPY are extending gains, the USDJPY is eyeing the April low of 142.07 (prices are according to Bloomberg), its lowest level since late September.
  • A clear break through 142.00 {USDJPY Curncy} opens to 141.66 next.

CROSS ASSET: Gold is heading to $3,300.00

Apr-16 07:27
  • Gold is now fast approaching the $3.3k mark, all multi cross assets (safe haven) have benefitted today on more Tariffs escalations, Gold, Core Bonds, Swissy and the Yen are all on the front foot.
  • The $3300.00 is so far providing a decent hurdle, printed a $3298.06 high.
  • A clear break through that level, opens to $3347.7 - 1.382 proj of the Dec 19 - Feb 24 - Feb 28 swing.

EGB SYNDICATION: Italy 7-year BTP / 30-year BTPei: Books open

Apr-16 07:20
7-year BTP:
  • Guidance: 3.15% Nov-31 BTP +14bps area
  • Size: EUR benchmark (MNI expects E7-13bln)
  • Maturity: 15 July 2032
  • ISIN: TBC
  • Coupon: Short first on 15 July 2025

30-year BTPei:

  • Guidance: 0.15% May-51 BTPei RY +38bps area
  • Size: E3bln WNG
  • Maturity: 15 July 2032
  • ISIN: TBC
  • Coupon: First full on 15 May
For both:
  • Settlement: 25 April 2025 (T+5)
  • Bookrunners: BBVA / BofA / GSBE SE / JPM (DM/B&D) / Natixis / Societe Generale
  • Timing: Books open, Today's business
From market source / MNI colour