FED: FOMC Minutes Preview: Participants Lean Hold, Voters Lean Cut (2/3)
Nov-19 16:36
We now see 10 (of 19) members who would go into the December meeting supportive of a hold to varying...
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US TSYS: UPDATE Post-Trump/China Tariff Headlines React
Oct-20 16:27
- Treasury futures are modestly higher after testing morning highs as Pres Trump talks tough on China "if they don't do business with the US": "CHINA WILL THREATEN US W RARE EARTHS, I REPLY W TARIFFS" Bbg
- The Dec'25 10Y futures contract trades +3.5 at 113-18.5, 113-10.5 low / 113-19 high on moderate volume of 727,000. MA studies are in a bull-mode position and this set-up continues to highlight a dominant uptrend. Sights are on 114-10, the Apr 7 high (cont) and the next key resistance.
ITALY AUCTION RESULTS: Day 1Oct-32 BTP Valore Books Total E5.4bln
Oct-20 16:23
- Day 1 books for the Oct-32 BTP Valore (ISIN: IT0005672016) totalled E5.4bln.
- This will be the fifth BTP Valore issued (but the first of 2025) and have the longest maturity to date. Since launching in 2023, BTP Valore volumes have ranged from E11.2-18.3bln with maturities ranging from 4-6 years.
- The last BTP Valore issued in May 2024 (maturity May 2030) saw day 1 books total E3.70bln.
- So far in 2025 there have been two Italian retail offerings: the 9-year BTP Piu in February for E14.9bln and the 7- year BTP Italian in May with a retail takeup of E8.8bln.
- Books for the Oct-32 Valore will close at 1300CET on October 24. The guaranteed minimum coupon rates will be 2.60% for years 1-3, 3.10% for years 4-5 and 4.00% for years 6-7.
OPTIONS: Larger FX Option Pipeline
Oct-20 16:12
- EUR/USD: Oct22 $1.1595-00(E1.1bln), $1.1810-30(E1.1bln); Oct23 $1.1515-25(E1.1bln), $1.1555-65(E1.3bln), $1.1575(E1.2bln), $1.1650(E1.1bln), $1.1750-70(E2.8bln)
- USD/JPY: Oct24 Y150.00($2.0bln)
- AUD/USD: Oct23 $0.6585-00(A$1.1bln); Oct24 $0.6450(A$1.5bln)
- NZD/USD: Oct22 $0.5700(N$1.1bln)
- USD/CAD: Oct22 C$1.3800($1.9bln), C$1.4200($1.1bln)
