RATINGS: Fitch On Belgium Headlines Sovereign Update Schedule This Evening
Potential sovereign rating reviews of note scheduled for after hours on Friday include:
- Fitch on Belgium (current rating: AA-; Outlook Negative) & Norway (current rating: AAA; Outlook Stable)
- Moody’s on Finland (current rating: Aa1; Outlook Stable) & Slovakia (current rating: A3; Outlook Stable)
- S&P on Germany (current rating: AAA; Outlook Stable) & Sweden (current rating: AAA; Outlook Stable)
- Scope Ratings on Poland (current rating: A; Outlook Stable)
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GERMAN AUCTION PREVIEW: On offer next week
Germany has announced it will be looking to sell E1bln of the 0% Aug-30 Green Bund (ISIN: DE0001030708) and E1bln of the 1.80% Aug-53 Green Bund (ISIN: DE0001030757) at its auction next Tuesday, May 20.
US TSY OPTIONS: Seller Of TY Downside Headlines Limited Start For London Flow
A relatively limited start to London dealing on the flow front, with the highlight coming via a screen sale of the TYM5 109.50 puts, which saw ~7.6K given at 0-11.
EUROPEAN INFLATION: German Inflation Breadth Broadly Unchanged In April
MNI’s inflation breadth tracker (see chart below) shows disinflation overall continuing to stall in April, with the percentage of ECOICOP (European classification of individual consumption according to purpose, a standardized category split) items printing at or below 1% unchanged 42.8%. In the high-inflation categories, similar trends could be observed, with the percentage of categories above 5% falling just 0.3pp to 14.8% in April.
