FINLAND AUCTION PREVIEW: On offer next week

Nov-02 07:04

Finland will look to sell the following bills next Tuesday:

  • Up to E1.25bln of the 6-month May 12, 2023 RFTB.
  • Up to E750mln of the 9-month Aug 14, 2023 RFTB.

Historical bullets

GILTS: 100 ticks higher on the open

Oct-03 07:03
  • Higher open as we expected (see bullet) - but a very big range - trading in an almost 100 tick range (96.79-97.73 within the first 2 minutes after the open).
  • At writing we are now up around 100 ticks versus Friday's close at 97.45.

EQUITIES: EU cash opening calls

Oct-03 06:52
  • Estoxx future has closed the overnight downside opening gap, but remains in the red, down 40 points.
  • Early cash opening calls: Estox 50: -1.17%, Dax: -1.24%, CAC: -1.03%, FTSE -0.89%, SMI -1.03%.

GBPUSD: Back to flat after the SONIA open; now look to the gilt open

Oct-03 06:50
  • GBPUSD is now back to flat on the day, reversing its rally after the SONIA open as the market removes around 15-20bp of hikes across the curve.
  • The near-term direction for the pound is now likely to depend on the strength of the gilt market open.
  • We expect a strong gilt open and this could point to some further GBP strength over the next half hour.