HUNGARY: Mol Expected to Sign New Crude Supply Deal
Aug-22 09:14
- Hungarian refiner Mol is expected to sign a new crude supply deal after a halt in the flow from Lukoil via Ukraine, Bloomberg report Cabinet Minister Gergely Gulyas as saying at a government briefing this morning.
- He added that the costs of transport will probably rise and Mol will have to carry the risk from the Russian-Ukrainian border under proposed solution and Bloomberg have since reported that costs will rise $1.5/bbl on the new deal.
- Note that Foreign Minister Szijjarto said yesterday that Hungary is making progress in talks to guarantee its long-term crude supplies after the blocking of Lukoil shipments via Ukraine.
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AUSTRIA T-BILL AUCTION RESULTS: 3/6-Month RATBs
Jul-23 09:12
| Type | 3-month ATB | 6-month ATB |
| Maturity | Oct 31, 2024 | Jan 30, 2025 |
| Allotted | E827mln | E785mln |
| Previous | E1.396bln | E817mln |
| Amount | E1bln | E1bln |
| Target | E1bln | E1bln |
| Previous | E1.75bln | E1bln |
| Avg yield | 3.550% | 3.450% |
| Previous | 3.680% | 3.660% |
| Bid-to-cover | 2.11x | 2.23x |
| Previous | 2.17x | 2.23x |
| Bid-to-offer | 1.75x | 1.75x |
| Previous | 1.73x | 1.82x |
| Previous date | May 21, 2024 | Apr 23, 2024 |
GILT AUCTION RESULTS: Mixed linker auction
Jul-23 09:07
- A mixed linker auction, with a decent bid-to-cover in excess of 3x (albeit the lowest on a non-linker auction since September).
- The price of 87.425 but below the secondary market low of the day at 87.448.
- In spite of this, the 0.125% Mar-39 linker price is now higher than it was immediately on the release of the auction results (albeit it did have a very marginal dip at the time).- No wider impact on non-linker pricing.
GILT AUCTION RESULTS: 0.125% Mar-39 linker
Jul-23 09:03
| 0.125% Mar-39 linker | Previous | |
| Amount | GBP1.00bln | GBP1.00bln |
| Avg yield | 1.053% | 1.051% |
| Bid-to-cover | 3.08x | 3.16x |
| Avg price | 87.425 | 87.330 |
| Pre-auction mid | 87.535 | 87.292 |
