POWER: Iberdrola, Echelon Finalise JV on Data Centres in Spain
Nov-26 10:54
Iberdrola and Echelon Data Centres have finalised a joint venture to construct and operate large-sca...
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US TSYS: TYA Probes Support Overnight On US-China Optimism, Heavy Supply Today
Oct-27 10:54
- Treasuries have pared losses but still trade lower ahead of this week’s Trump-Xi meeting after encouraging headlines and agreements surrounding working meetings in Malaysia over the weekend.
- Today sees heavy Treasury issuance headline an otherwise quieter docket, with 2Y and 5Y auctions as a result of month-end timing and Wednesday’s FOMC decision. President Trump is in Japan.
- Cash yields are 1.7-2bp lower across the curve, with no sign of upcoming front-end/belly supply weighing on curves.
- TYZ5 trades at 113-08+ (-05+) on reasonable cumulative volumes nearing 300k.
- It shifts further away from post-CPI fleeting highs of 113-24 (which didn’t trouble resistance at 114-02, Oct 17 high) and has sustained moves below pre-CPI levels of ~113-11. Moving average studies highlight a bullish structure but the 113-04 seen overnight probed support at 113-06+ (20-day EMA), with a clearer breach then opening 112-30 (Oct 13 low).
- Data: Dallas Fed Mfg Activity (1030ET)
- Coupon issuance: US Tsy 2Y auction - 91282CPE5 (1130ET), $70B 5Y auction - 91282CPD7 (1300ET)
- Bill issuance: US Tsy $77B 26W bill (1130ET), $86B 13W bill (1300ET)
- Politics: Trump in courtesy call and visit with Emperor of Japan (0530ET), Trump in extended bilateral meeting with Japan PM (2030ET)
PIPELINE: Corporate Bond Roundup: Republic of Turkiye on Tap
Oct-27 10:53
- Date $MM Issuer (Priced *, Launch #)
- 10/27 $Benchmark Turkiye 11Y 7.15%
- 10/27 $Benchmark Lloyds PerpNC10 7.125%a
- No new issuance Friday, $26.4B total on week
OPTIONS: Expiries for Oct27 NY cut 1000ET (Source DTCC)
Oct-27 10:47
- EUR/USD: $1.1520-35(E1.5bln), $1.1620-40(E1.6bln), $1.1650(E548mln), $1.1670-80(E1.4bln), $1.1700-10(E1.1bln)
- USD/JPY: Y152.00($531mln)
- AUD/USD: $0.6490(A$2.0bln)
- USD/CAD: C$1.4100($793mln)
