EQUITIES: Futures Off Overnight Lows

Jun-23 09:23
  • Asian markets closed mixed: Japan's NIKKEI closed up 21.7 pts or +0.08% at 26171.25 and the TOPIX ended 0.91 pts lower or -0.05% at 1851.74. China's SHANGHAI closed up 52.947 pts or +1.62% at 3320.149 and the HANG SENG ended 265.53 pts higher or +1.26% at 21273.87.
  • European stocks are sharply lower, with the German Dax down 175.67 pts or -1.34% at 12969.33, FTSE 100 down 58.58 pts or -0.83% at 7030.25, CAC 40 down 68.1 pts or -1.15% at 5848.59 and Euro Stoxx 50 down 40.29 pts or -1.16% at 3424.47.
  • U.S. futures are a little higher vs overnight lows: Dow Jones mini down 105 pts or -0.34% at 30366, S&P 500 mini down 6 pts or -0.16% at 3756.75, NASDAQ mini up 21.5 pts or +0.19% at 11587.25.

Historical bullets

GILTS: Roll block trade

May-24 09:21
  • Gilt Roll blocked at 66 in 23k. Suggest a buy.
  • Market is 66/67 after settling at 65.

EU COMMISSION: VdL At WEF-Putin's Aggression Must Be A Strategic Failure

May-24 09:17

European Commission President Ursula von der Leyen speaking at the World Economic Forum annual meeting in Davos.

  • Livestream: https://www.weforum.org/events/world-economic-foru...
  • VdL: "We will do everything we can to help Ukrainians prevail. For the 1st time, the EU is providing military aid to a country under attack. We proposed over EUR10bn in macro-financial assistance...Putin's aggression must be a strategic failure."
  • VdL: "With the same resolve, we will help Ukraine rise from the ashes. That’s the idea behind the reconstruction platform that I have proposed to President Zelenskyy. We need everyone on board. And we should leave no stone unturned – including possibly using Russian assets."

EGB SYNDICATION: Austria Green May-49: Spread set

May-24 09:16
  • Issuer: Republic of Austria
  • Maturity: 23 May 2049
  • Size: Benchmark
  • Spread set at MS+22bps (Initial guidance was MS + 25bps area then revised to MS + 23bps area (+/-1bps WPIR))
  • Books in excess of E23bln (inc E2.4bln JLM)
  • ISIN: AT0000A2Y8G4
  • Settlement: 31 May 2022 (T+5)
  • Coupon: Fixed, Ann ACT/ACT, short first
  • UoP: The proceeds of the bond will be used in accordance with the Republic of Austria’s Green Bond Framework
  • Bookrunners: BARC / BofA / DB / GSBE / JPM(DM/B&D) / UniCredit
  • Timing: Books will close at 10:30 BST / 11:30 CET
From market source