FED: MNI: Fed Holds Rates, Cites Lack Of Inflation Progress
May-01 18:03
- (MNI) WASHINGTON - The Federal Reserve kept interest rates on hold for a sixth meeting in a row Wednesday and noted a lack of improvement in recent inflation numbers, suggesting policymakers are in no rush to begin lowering interest rates.
- "In recent months, there has been a lack of further progress toward the committee’s 2% inflation objective," the Fed said in its post-meeting statement.
- Officials also unveiled plans to reduce the pace of balance sheet reduction starting in June, lowering the cap on Treasuries allowed to run off the portfolio to USD25 billion a month but maintaining the pace of agency mortgage-backed securities at a maximum of USD35 billion.
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US: FED Reverse Repo Operation: Usage In Retreat
Apr-01 17:29
- RRP usage falls back to $441.903B after surging to $594.428B last Thursday. Compares to mid-March low of $413.877B - the lowest level since May 2021.
- Meanwhile, the latest number of counterparties falls back to 74 vs. 90 last Thursday (compares to 65 on January 16, the lowest since July 7, 2021)
NY Federal Reserve/MNI
PIPELINE: $2.5B GM 2Pt, $2B Adobe 3Pt Debt Launched
Apr-01 17:22
- Date $MM Issuer (Priced *, Launch #)
- 4/1 $2.5B #GM Financial $1.25B +5Y +123, $1.25B 10Y +163 (5Y SOFR dropped)
- 4/1 $2B #Adobe $500M 3Y +35, $750M 5Y +50, $750M 10Y +65
- 4/1 $1.2B #Public Service Co of Colorado $450M 10Y +105, $750M 30Y +130
- 4/1 $1.1B #Analog Devices $550M 10Y +75, $550M 30Y +87
- 4/1 $Benchmark Canadian Imperial Bank (CIBC) 5Y +93
- 4/1 $500M #Arrow Electronics 10Y +155
- 4/1 $1.25B Rakuten 5NCL investor calls
US TSY OPTIONS: Midday Roundup
Apr-01 17:11
Mixed on net, option desks reporting slightly better 5- and 10Y call trade after midday
- 3,000 FVK4 106.75/107.5/108 broken call flys, ref 106-15.5
- 3,000 TYK4 108.5/111.5 strangles, 24 ref 109-29.5
- 1,700 TYM4 116/116.5/117/117.5 call condors ref 109-30
- Earlier trade includes:
- 4,000 USK4 117/118 put spds, 25 ref 118-21
- 1,000 USK4 111/115/117 broken put fly, 14 ref 119-15
- 10,600 TYK4 109 puts, 9
- 6,200 TYK4 110 puts, 22 last
- 1,000 FVK4 105.75 puts, 5.5
