CONSUMER CYCLICALS: Kering; new Gucci director may be announced soon (x2)
Mar-13 17:16
(KERFP; NR/BBB+ Stable)
- So against earlier rumours, it is going with internal appointment - Demna the Creative Director at Balenciaga will be moved up to the role.
- Balenciaga sits within 'other houses' who combine to make up ~20% of group sales.
- That segment was down -4% in 4Q and -7% in the FY - but based on remarks Balenciaga within it was doing better.
As we said earlier not a mover, caution remains ahead of earnings next month.
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STIR FUTURES: BLOCK: Second Large March'25 SOFR Futures Cross
Feb-11 17:12
- -40,000 SFRH5 95.705, post-time bid at 1202:23ET, DV01 $1.0M, the contract trades 95.70 last (-0.010).
US TSYS/SUPPLY: Preview 3Y Note Auction
Feb-11 17:08
Tsy futures are trading near early session lows ahead of the $58B 3Y note auction (91282CMN8) at 1300ET, WI is currently at 4.312%, 2bp rich to last month's auction.
- January auction recap: Treasury futures remain mostly weaker, off lows after $58B 3Y note auction (91282CMF5) draws 4.332% high yield vs. 4.320% WI; 2.62x bid-to-cover vs. 2.58x prior.
- Peripheral stats see indirect take-up slips to 60.98% vs. 64.18% prior; direct bidder take-up rebounds to 19.67% from 9.62% prior; primary dealer take-up rises to 19.36% vs. 15.11% prior.
- Timing today's 3Y note sale: results will be available shortly after the competitive auctions closes at 1300ET.
FED: US TSY TO SELL $90.000 BLN 4W BILL FEB 13, SETTLE FEB 18
Feb-11 17:05
- US TSY TO SELL $90.000 BLN 4W BILL FEB 13, SETTLE FEB 18
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