FRANCE AUCTION PREVIEW: IL OATs
Jun-15 08:20
On offer today: E1-1.5bln of IL OATs
- 0.10% Mar-29 OATei (ISIN: FR0013410552)
- 0.10% Jul-31 OATei (ISIN: FR0014001N38)
- 0.10% Jul-53 OATei (ISIN: FR0014008181)
Timing: Results will be available shortly after the auction closes at 1050 BST / 1150 CEST.
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GBP: GBP/USD Close to Erasing Data-Inspired Losses
May-16 08:09
- GBP volumes stand out vs the rest of G10 following this morning's data release. GBP futures see activity at over 60% above average for this time of day - contrasting with EUR, JPY and AUD at these levels, which are seeing subpar participation.
- GBP/USD's initial drop on the back of softer-than-expected jobs data has been largely reversed (pair printed a low at 1.2466) alongside broader USD weakness as the greenback catches up with the pullback in US yields off the overnight highs.
- A further bounce in GBP/USD through overnight highs opens 1.2541/2641 the High May 12 / 11 ahead of the bull trigger at 1.2680.
GLOBAL: Bank of America's FMS Sees Investors Boost Allocation to Stocks to a 5-Month High
May-16 08:06
Bank of America's Fund Manager Survey for May:
- Sees investors boost allocation to equities, hitting a new 5 month high, rotating out of commodities and into tech and Euro-area stocks
- The survey sees long big tech, short banking and short USD as the most crowded trade
- Their survey sees 71% of investors still seeing the debt ceiling being raised by the incoming X-date
GILT SYNDICATION: 4.00% Oct-63 Gilt: Books open
May-16 08:03
- Size: GBP Benchmark (MNI expects GBP4.5-6.0bln)
- Maturity: 22-Oct-2063
- Expected Settlement Date: 17-May-2023 (T+1)
- Coupon: 4.000% SA, ACT/ACT, short first coupon to 22-Oct-2023
- Guidance: 2.50% Jul-65 gilt (GB00BYYMZX75) +6.5/+7.0 bps
- ISIN: GB00BMF9LF76
- Joint Leads: GSIB, HSBC, MS (B&D/DM), Nomura and RBC CM
- Timing: Books open, today’s business
From market source
