EM CEEMEA CREDIT: MTNSJ: testing satellite tech to boost coverage, neutral

Mar-28 09:20

MTN (MTNSJ; Ba2/BB-/-)

“Zawya: MTN, Lynk make Africa's first satellite voice call using smartphone” – BBG

  • Neutral for credit. Direct to mobile technology offers significant potential for growth. As reported, this looks an important step forward in developing the technology, in terms of boost to coverage growth rates across vast underserviced areas. One to watch out for.

Historical bullets

EURIBOR OPTIONS: ERH5 97.625 Calls Sold

Feb-26 09:15

ERH5 97.625 calls ~4K given at 1.25

EURIBOR OPTIONS: Call Condor vs Put Spread

Feb-26 09:04

ERM5 97.875/98.00/98.125/98.25c condor vs 97.625/97.50ps, sold the Condor at 3.25 in 5.5k.

BUNDS: Spiking higher in early trade

Feb-26 08:58
  • Bund sees a decent extension, has again closed the 132.60 gap, with next resistance coming at 132.97.
  • As mentioned, the German supply wasn't expected to weigh into Govies in early trade, but still not seen any clear new driver on this spike higher.
  • Volumes have picked up, with around 30k bought in the past 10 minutes or so.
  • US Treasuries are Totally unmoved.