GERMANY: IFO Export Expectations Drop But Remain Above Covid/GFC Lows
Apr-25 08:08
IFO export expectations dropped in April, to -9.8 (-2.3 March), the lowest since May 2020 in an unsurprising move following firmer US tariff policy. On a historical comparison, the index remains well off lows seen during the pandemic and the global financial crisis.
- "The high level of uncertainty regarding how the tariffs will actually develop will probably exacerbate the situation further", IFO adds.
- Across sectors, the sentiment deterioration appears broad-based according to additional IFO comments (no numeric sectoral breakdown publicly available).
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EURIBOR OPTIONS: More upside interest via Option
Mar-26 08:07
ERM5 97.9375/98.00cs, bought for 2 in 10k.
STIR: SFRH6/H7/H8 Fly Lifted
Mar-26 08:04
SFRH6/H7/H8 fly paper paid -19.5 on 2.5K.
EGB SYNDICATION: Belgium 10-year USD benchmark
Mar-26 08:04
- Size: USD benchmark (MNI expects USD 1.0-1.5bln
- Maturity: 2 April 2035
- Settlement: 2 April 2025 (T+5)
- Coupon: Fixed, SA 30/360
- Final Spread: MS + 67 bps (in line with IPTs yesterday)
- Bookrunners: CITI(DM/B&D)/JPM/MS
- ISINs: RegS: BE6362168351 / 144A: BE6362169367
- Timing: Books open, today's business.
From market source / MNI colour
