OUTLOOK: Price Signal Summary - EURUSD Is Holding On To Its Recent Gains

Core global FI markets find a base as WTI & Brent trade back from session highs, with the correlation between the two remaining elevated given focus on the situation in the Middle East and related energy vol.

• Bunds and gilts still bear flatten on the day, while Tsys bull flatten.
• Move lower in crude comes as various countries flag support for IEA-led action.
• Most recently, local reports have noted that Germany is set to release stockpiles from its strategic reserve.
• Austria has signalled support and readiness to act in accordance with any IEA-led stockpile releases.
• Japan has signalled that it will release stockpiles from its strategic reserve, irrespective of the IEA decision, along with introducing curbs for gasoline prices.
• A reminder that RTRS sources reported that the IEA is set to announce its recommendation on the joint strategic oil reserve release at 13:00 London. Several source reports have pointed to the IEA recommending a record release of 300-400mln barrels.

• Final terms: SGB+2bps (Revised Guidance was SGB+3 (+/-1) WPIR, guidance was SGB + 4bps area, IPT was SGB+5bps)
• Size: SEK20bln WNG
• Books above SEK67.5b (excluding JLM interest): Leads
• Maturity: 9 February 2037
• Coupon: Annual, 30/360
• Settlement: March 18, 2026 (T+5)
• ISIN: SE0028000281
• Bookrunners: Danske, Handelsbanken, Nordea, SEB (B&D), Swedbank

Details as per Bloomberg