EU REAL ESTATE: Lineage: 6yr Final
Nov-19 13:43
(LINE; Baa2neg/NR/BBB+neg)
• Final: € 700m 6yr ms+175bps
• Books > €1.4bn
• IPT: € BMK 6yr ms+200a
• FV: ms+150. We doubt it will print so far through IPT for an inaugural deal, but this is where we see FV.
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GILTS: Friday's Net Short Setting Puts An End To Streak Of Short Cover
Oct-20 13:32
After five consecutive sessions of net short cover, OI data suggests short setting dominated in Gilt futures on Friday.
- Gilt futures followed UST counterparts lower on Friday, a combination of easing US/China trade tensions (following less inflammatory rhetoric from President Trump) and cooling fears around US regional bank risks.
- Futures fell 18 ticks on Friday, with OI rising by 2.7k contracts. This compares to a near 30k reduction in total OI from October 10 to October 16.
- Today’s session has been relatively quiet, with Gilts drifting steadily higher (currently +19 at 92.65).
- Focus remains on this week’s UK data, with September public sector finances due tomorrow and September inflation due on Wednesday. MNI’s inflation preview will be released tomorrow morning.
EQUITIES: US Cash Opening Calls
Oct-20 13:26
SPX: 6,706.2 (+0.6%); DJIA: 46,406 (+0.5%/+216pts); NDX: 25,006.4 (+0.8%).
US TSY FUTURES: BLOCK: Dec'25 10Y Buy
Oct-20 13:19
- +5,000 TYZ5 113-18.5, buy through 113-18 post time offer, DV01 $339,000.
- The 10Y contract trades 113-18.5 last (+3.5)
