EM CEEMEA CREDIT: MOODY'S RAISES OTP SENIOR UNSECURED DEBT
Oct-30 13:59
"*MOODY'S RAISES OTP SENIOR UNSECURED DEBT OUTLOOK TO STABLE" - BBG...
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GILTS: Back To Little Changed As Tsys Rally
Sep-30 13:58
Gilts firm as Tsys trade back towards session highs. UK paper continues to look offshore for cues.
- Comments from UK PM Starmer, at the Labour Party conference, haven’t provided much for markets to trade off, as he reiterates familiar lines surrounding the need to jumpstart economic growth.
- Gilt futures little changed at 90.88 with bulls unable to force a test of first resistance at the Sep 24 high (91.28). That leaves bears in technical control, with first support located at the Sep 26 low (90.26).
- Yields essentially flat across the curve, with 2s10s and 5s30s remaining in their steepening trend despite the recent flattening moves.
- BoE-dated OIS still prices less than 5bp of BoE easing through year-end, which continues to look a little flat to us.
STIR: Post-MNI PMI Projected Rate Cut Pricing Gains
Sep-30 13:57
Projected rate cut pricing continues to gain momentum vs. late Monday levels (*): Oct'25 at -23.1bp (-22.7bp), Dec'25 at -42.5bp (-41.3bp), Jan'26 at -51.6bp (-50.7bp), Mar'26 at -62.5bp (-60.9bp).
US TSY FUTURES: BLOCK: Pre-PMI 2Y Sale
Sep-30 13:55
- -6,000 TUZ5 104-06, sell through 104-06.12 post time bid at 0941:00ET, DV01 $238,200.
- The 2Y trades 104-06.25 last (+1.75)
