BRAZIL: IPCA Inflation Slightly Below Expectations In September

• GBP437.5mln have been on offer.
• This means GBP34.875bln of the gilt remain in issue.

• On the commodity front, Gold remains in a clear bull cycle and last week’s gains plus Monday’s bullish start to the week, reinforce current conditions. The yellow metal has traded to a fresh all-time high. The break also confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is $3674.8, a 2.382 projection of the Dec 30 ’24 - Apr 3 - 7 price swing. Initial firm support lies at $3458.7, the 20-day EMA.
• In the oil space, the trend condition in WTI futures is unchanged - a bear cycle remains intact. The pullback from last Tuesday’s high highlights a possible reversal and the end of the corrective phase. Initial resistance to watch is $66.03, the Sep 2 high. Key short-term resistance has been defined at $69.36, the Jul 30 high. A stronger resumption of weakness would pave the way for a move towards $57.71, the May 30 low.

"The GRAND DUCHY OF LUXEMBOURG, rated Aaa/AAA/AAA (all stable), has mandated BofA Securities, BCEE, Credit Agricole CIB, Deutsche Bank and Societe Generale as Joint Lead Managers for its upcoming new 10-year Euro-denominated senior fixed rate benchmark due 17 September 2035. The transaction is expected to be launched and priced in the near future, subject to market conditions. RegS only, Bearer form, CAC, FCA/ICMA stabilisation. The target market for the Bonds is professionals, retail and eligible counterparties (all channels for distribution), each as defined in MIFID II/UK MiFIR."

From Market source