ENERGY: *NO FURTHER EUROPE-IRAN NUCLEAR TALKS SCHEDULED YET:: Bloomberg

• Date $MM Issuer (Priced *, Launch #)
• 05/21 $6.5B #Citibank $2.25 B2Y +58, $1.25B 2Y SOFR, $2.5B 5Y +78, $500M 5Y SOFR
• 05/21 $4B *ADB 5Y SOFR+42
• 05/21 $2B #Turkiye 7Y 7.45%
• 05/21 $2B #CoreWeave 5NC2 9.25%
• 05/21 $2B #BPCE $1B 6NC5 +125, $1B 11NC10 +145
• 05/21 $1.5B *OKB 3Y +34
• 05/21 $1.25B *Kommunalbanken +5Y SOFR+49
• 05/21 $1B #Northwestern Mutual Life 30Y +135a
• Expected Thursday:
• 05/21 $1B Finnvera WNG 5Y SOFR+53a

From our Europe Pi update out earlier (PDF is Here)

• GERMANY: German contracts are fading some of the long lean seen in April. Schatz remains "very long" for now. Bobl however has left long territory and is now flat. Bund and Buxl each remain in flat positioning. Shorts were set in Buxl in the past week, with longs set in Schatz, Bobl and Bund. 

• OAT: OAT remains in "flat"  structural positioning, where it has been for all of May after a spell in short territory in March/April. The most recent week's trade was indicative of long setting.
• GILT: Gilt structural positioning remains "very long" into the roll, compared with "flat" where it spent most of the prior 7 months. The latest week saw some some shorts set. 
• BTP: BTP remains in its typical "long" territory. Trade indicative of short covering was seen in the most recent week.

• RES 4: 1.3605 1.382 proj of the Feb 28 - Apr 3 - 7 price swing
• RES 3: 1.3550 High Feb 24 ‘22
• RES 2: 1.3510 1.236 proj of the Feb 28 - Apr 3 - 7 price swing
• RES 1: 1.3469 Intraday high  
• PRICE: 1.3435 @ 15:58 BST May 21
• SUP 1: 1.3282 20-day EMA   
• SUP 2: 1.3140/37 Lows May 12 / 50-day EMA
• SUP 3: 1.3041 Low Apr 14  
• SUP 4: 1.2968 Low Apr 11 

GBPUSD traded sharply higher on the back of the UK CPI print, and saw further support from USD weakness into the close. This put prices briefly through key resistance and the bull trigger at 1.3444, the Apr 28 / 29 high. A clear break of this hurdle would confirm a resumption of the uptrend and signal scope for an extension towards 1.3510, a Fibonacci projection point. Medium-term trend signals highlight a dominant uptrend - moving average studies are in a bull-mode position. Key support to watch is 1.3137, the 50-day EMA.