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Sep-19 09:49

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At 10:20 ET 15:20 BST, the House of Representatives is expected to vote on a 'clean' GOP CR to exten...

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GERMAN AUCTION RESULTS: Aug-54 Line Very Weak

Aug-20 09:46

Very weak Bund auction on the Aug-54 line with a 1.03x bid-to-cover and 0.79x bid-to-offer. The low price achieved at the auction was also lower than the pre-auction midprice.

  • The 1.03x bid-to-cover is the lowest seen since 2018 in the German 30-year segment.
  • The line is seeing some contained weakness, printing 85.440 vs 85.560 right before the auction.
  • The Aug-46 line fared better, with solid demand metrics and the low price achieved at the auction above the pre-auction mid.
  • Bund futures came off the highs past the auction.

EGB OPTIONS: Bund rolling Call

Aug-20 09:41

RXU5/RXV5 129.5c spread, bought the Oct for 20.5 in 5k.

EGB SYNDICATION: Finland New 7-year Apr-32 RFGB: Final terms

Aug-20 09:41
  • 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: Short first
  • Settlement: 28 August 2025 (T+6)
  • ISIN: FI4000591862
  • Bookrunners: Barclays (DM/B&D) / Bofa Securities / Danske Bank / Deutsche Bank / J.P. Morgan
  • Timing: Allocations and pricing to follow
From market source / MNI colour