EUROZONE: Historically Low U/E Rate Not Translating To Consumption [1/3]
Sep-19 13:09
* The ECB has been putting some weight on the historically low unemployment rate in recent months,...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
SOFR OPTIONS: Mixed Sep'25 SOFR Trade
Aug-20 13:08
- -20,000 SFRU5 95.81/SFRZ5 95.87 put spds, 0.75 net/Sep over
- +4,000 SFRU5 95.62/96.31 call over risk reversals, 0.25 ref 95.9025
CROSS ASSET: Lower Yields are helping some USD Downside
Aug-20 13:06
- A new session high for US Tnotes, now testing Yesterday's high of 111.27, just ahead of the small initial resistance at 111.30+.
- Outright Order flows are still fairly subdued, with all the volumes going through in Desks rolling their September Position into the December Expiry.
- Nonetheless and since Trump's post on Fed Cook, the USD is now on the backfoot, DXY tests session low, and EUR, CHF, and Gold are all testing their respective new intraday high.
EGB SYNDICATION: Finland New 7-year Apr-32 RFGB: Priced
Aug-20 12:42
- Re-offer: 99.254 to yield 2.751%
From market source
More details to follow - Spread set earlier at MS + 29bp (guidance was MS + 31bps area)
- Size: E4bln (MNI expected E3bln but noted upsizing to E4bln was possible)
- Books in excess of E33bln (inc E2.25bln JLM interest)
- Maturity: 15 April 2032
- Coupon: 2.625%. Short first
- Settlement: 28 August 2025 (T+6)
- Hedge ratio: 110% vs 0% Feb-32 Bund. Spot ref: 85.71 / +34.5bp
- ISIN: FI4000591862
- Bookrunners: Barclays (DM/B&D) / Bofa Securities / Danske Bank / Deutsche Bank / J.P. Morgan
- Timing: TOE 13:29BST / 14:29CET. FTT immediately
From market source / MNI colour
