CROSS ASSET: GBP Holds, Gilts Shaky on Further Disclosures on Reeves Rent
Oct-30 16:27
GBP currency holding generally firm on these Reeves headlines, but Gilt futures showing some signs of weakness. Markets already cognizant of the sensitivity around Reeves' position after a mid-summer wobble in Parliament.
- Gilts traded off the highs, edging lower to 93.56, but have generally stabilised.
- Focus now is on the disclosures contained in the emails (which are set to be released with redactions in due course, according to GB News), and whether it exonerates or works against Reeves' standing as Chancellor.
- The comment from the spokesperson alongside the new headlines "Starmer has full confidence in Reeves" may suggest her position is safe as Chancellor ahead of the key Autumn Budget later in November.
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PIPELINE: Corporate Bond Roundup: $11.25B Kuwait 3Pt Launched
Sep-30 16:21
- Date $MM Issuer (Priced *, Launch #)
- 09/30 $11.25B #Kuwait $3.25B 3Y +40, $3B 5Y +40, $5B 10Y +50
- 09/30 $1.5B *Rentenbank 5Y SOFR+37
- 09/30 $1.5B #Egypt $700M 3Y 6.375%, $800M 7Y Sukuk 7.95%
- 09/30 $1.25B Carnival Corp 3.5NC
- 09/30 $1B ADT 8NC guidance TBA
- 09/30 $700M #Centerpoint Energy 30.5NC5.25 5.95%
- 09/30 $600M #Turk Telekom 7Y 6.95%
- 09/30 $Benchmark Kuwait 3Y, 5Y, 10Y
- 09/30 $Benchmark Guardian Life 5Y +60
- 09/30 $Benchmark Pacific Gas & Electric 3Y, 7Y & 30Y
- 09/30 $1.4B WBI Operating 5NC2 6.25%, 8NC3 6.5%
- 09/30 $Benchmark Thermo Fisher +5Y +70a, 7Y +80a, 10Y +90a, 12Y +100a
- 09/30 $Benchmark Bahrain +8Y Sukuk, 12Y investor calls
OPTIONS: Larger FX Option Pipeline
Sep-30 16:13
- EUR/USD: Oct02 $1.1695-00(E1.5bln), $1.1750(E1.1bln), $1.1785-90(E2.8bln); Oct03 $1.1700(E1.1bln), $1.1845-55(E1.9bln), $1.1875(E1.2bln)
- USD/JPY: Oct02 Y147.95-00($1.6bln), Y149.50($1.0bln); Oct06 Y147.00($1.2bln)
- AUD/USD: Oct02 $0.6600(A$1.7bln); Oct03 $0.6600(A$1.5bln); Oct06 $0.6700(A$1.1bln)
- NZD/USD: Oct03 $0.6450(N$1.2bln)
FED: US TSY TO SELL $67.000 BLN 17W BILL OCT 01, SETTLE OCT 07
Sep-30 16:05
- US TSY TO SELL $67.000 BLN 17W BILL OCT 01, SETTLE OCT 07
