BELGIUM AUCTION RESULTS: ORI Operation
Mar-01 11:10
| 1.00% Jun-31 OLO* | 1.45% Jun-37 OLO* | |
| ISIN | BE0000335449 | BE0000344532 |
| Amount | E325mln | E176mln |
| Previous | E1.225bln | E225mln |
| Avg yield | 2.804% | 3.140% |
| Previous | 3.586% | 2.896% |
| Bid-to-cover | 1.92x | 2.59x |
| Previous | 1.24x | 1.56x |
| Avg Price | 88.242 | 81.851 |
| Low Price | 88.23 | 81.85 |
| Pre-auction mid | 88.264 | 81.824 |
| Prev avg price | 95.274 | 88.331 |
| Prev low price | 95.17 | 88.32 |
| Prev mid-price | 95.028 | 88.292 |
| Previous date | 23-Oct-23 | 15-Dec-23 |
| Previous ISIN | BE0000357666 | BE0000336454 |
| Previous bond | 3.00% Jun-33 OLO | 1.90% Jun-38 OLO |
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSY FUTURES: OI Points To Mix Of Modest Positioning Swings On Tuesday
Jan-31 11:04
The combination of yesterday's twist flattening of the Tsy futures curve (come settlement time) and preliminary OI data points to the following net positioning swings across the curve on Tuesday.
- Net long cover: TU & FV futures
- Net long setting: TY & UXY futures
- Net short cover: US & WN futures
- DV01 equivalent OI swings in each contract were contained, with a bias towards a mix of short and long cover in net curve terms.
| 30-Jan-24 | 29-Jan-24 | Daily OI Change | OI DV01 Equivalent Change ($) | |
| TU | 3,921,624 | 3,943,178 | -21,554 | -805,598 |
| FV | 5,932,109 | 5,943,189 | -11,080 | -474,145 |
| TY | 4,721,861 | 4,720,623 | +1,238 | +79,502 |
| UXY | 2,105,794 | 2,097,400 | +8,394 | +770,604 |
| US | 1,422,864 | 1,429,081 | -6,217 | -847,500 |
| WN | 1,646,623 | 1,652,422 | -5,799 | -1,243,128 |
| Total | -35,018 | -2,520,264 |
EGB SYNDICATION: 15-year BTP: Launched
Jan-31 11:01
- Size: E10bln (MNI expected E5-10bln)
- Spread set at 3.25% Mar-38 BTP + 11 bps (guidance was + 13 bps area)
- Books closed in excess of E77bln (inc E2.275bln JLM interest)
- Maturity: 01 October 2039
- Settlement: 7 February 2024 (T+5)
- Coupon: Fixed, S/A ACT/ACT (full first coupon on 1 April 2024 accruing from 1 October 2023)
- ISIN: IT0005582421
- Bookrunners: Barclays/ BNPP (B&D/DM) / Citi / IMI-Intesa Sanpaolo / Morgan Stanley
- Timing: Books are closed. Allocations and pricing to follow
From market source
EU-UK: NI Exec Set To Return As Brexit Border Checks Kick In (2/2)
Jan-31 10:58
The details of the agreement between the DUP and the UK gov't regarding GB-NI border checks (see 1058GMT bullet) will be assessed by the EU as to whether there is any threat posed to the integrity of the Single Market or the Good Friday Agreement. The UK gov't has claimed that the Windsor framework is not impacted by the deal, but a Commission spox said that the texts would be examined "when the time comes."
- The agreement is set to come at the same time as Brexit-related checks on 'medium risk' goods including food, plant, and animal imports into the UK come in to force. The checks had been pushed back on several occasions for fear of disrupting supply chains as well as giving businesses ample time to get ready.
- The requirement of "export health certificates" on imports of "medium risk" animal products including meat, fish, and chees, comes in from 31 Jan, with physical checks at the border to be implemented from end-April.
- Some retailers and industry bodies have warned about EU producers halting exports to the UK due to red-tape, as well as a potential inflationary impact for consumers due to the associated bureaucratic costs being passed on. As the BBC reports "The government admitted the extra red tape and checks would increase food prices, but not as much as seen in recent times. It has forecast the controls could push up inflation by 0.2 percentage points over three years."
