EU CONSUMER CYCLICALS: Next: 6Y FINAL
Jul-09 12:36
(NXTLN; Baa1/BBB/NR)
- £300m 6y UKT +95 (eqv. Z+120) vs. FV +85 (Z+110)
- 10bp NIC
- -20 from IPT, books > £1.0b
- 3m par call, MWC
- UoP includes up to £100m tender of 26s (-30 inside clean close)
- Haleon curve at Z+100 (non-cyclical, high-grade) is pushing our FV wider
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SOFR OPTIONS: Aug'25 SOFR Midcurve Call Sale
Jun-09 12:32
- -10,000 0QQ5 96.87 calls, 4.0 vs. 96.565/0.26%
GLOBAL POLITICAL RISK: Week Ahead 9-15 June
Jun-09 12:31
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MNI's Political Risk team has published its Week Ahead article, looking at the major political risk events taking place over the course of the next seven days. Includes information on the US and China holding trade talks, the G7 leaders summit, the UK gov't unveiling its Spending Review, and the Polish gov't facing a confidence vote.
BONDS: Some buying off the lows in OAT and BTP
Jun-09 12:24
OAT Block trade, suggest buyer:
- OATU5 ~2k at 124.40.
There's also some outright BTP buyers off the lows, around 8k in the past 5 minutes or so, and all cumulative no Blocks.
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