EM LATAM CREDIT: New Issue: Mexico's Coca-Cola Femsa (KOF; A3neg /A- /A neg)
May-01 16:28
“GUIDANCE: Coca-Cola Femsa $Benchmark 10Y +95a (+/-2)” - BBG
IPT 10Y: T + 120 Area
FV 10Y: T + 105 bps Area
• We thought T+97 bps area was fair value and then added a new issue concession but apparently none was required. Strong technicals apparently with limited supply of ‘A’ rated names available in the market. Please see our earlier fair value post for more information:
https://mni.marketnews.com/4m3xuvN
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US OUTLOOK/OPINION: Atlanta Fed GDP Now Sees Even Deeper Q1 Contraction
Apr-01 16:14
The Atlanta Fed's GDP Now estimate for Q1 GDP has fallen again in the latest update, to -3.7% (vs -2.8% in the prior estimate). The gold-adjusted estimate is -1.4% (was -0.5% prior).
- While the headline estimate is still skewed heavily by the gold import factor, interestingly for the first time in these updates, real private consumption is seen contracting (-0.6%), amid an even softer domestic demand estimate.
- "After this morning’s construction spending report from the US Census Bureau and incorporation of the available March data into the models’ dynamic factor model, including manufacturing data from Institute for Supply Management and measures of consumer attitudes from two surveys, both the standard model’s and the alternative model’s forecasts of first-quarter real final sales to private domestic purchasers growth declined from 1.5 percent to 0.4 percent."
FED: US TSY TO SELL $75.000 BLN 8W BILL APR 03, SETTLE APR 08
Apr-01 16:05
- US TSY TO SELL $75.000 BLN 8W BILL APR 03, SETTLE APR 08
FED: US TSY TO SELL $60.000 BLN 17W BILL APR 02, SETTLE APR 08
Apr-01 16:05
- US TSY TO SELL $60.000 BLN 17W BILL APR 02, SETTLE APR 08
