OUTLOOK: Price Signal Summary - Monitoring Support In Bunds
Aug-01 11:02
- In the FI space, Bund futures remain above 128.84, the Jul 25 low. The sell-off on Jul 25, resulted in a test of the base of a 3.5-month range at the 129.00 handle. This key support remains intact for now. A hammer candle formation on Jul 25 followed by a bullish engulfing candle on Jul 28 signals a potential reversal. Initial resistance to watch is 129.87, the 20-day EMA. A break of the Jul 25 low is required to confirm a resumption of the bear trend.
- Gilt futures have traded higher this week but have pulled back from Thursday’s high. Note that the contract has breached resistance at 92.15, the Jul 22 high - a bullish development. A return higher would open 92.42, the 50.0% retracement of the Jul 1 - 18 bear leg. On the downside, key support and the bear trigger has been defined at 91.08, the Jul 18 low. Clearance of this level would resume the bear cycle that started Jul 1.
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DUTCH AUCTION PREVIEW: On offer next week
Jul-02 11:02
DSTA has announced it will be looking to sell E1.75-2.25bln of the 3.25% Jan-44 Green DSL (ISIN: NL0015001RG8) at its auction next Tuesday, July 8.
MNI: US MBA: MARKET COMPOSITE +2.7% SA THRU JUN 27 WK
Jul-02 11:00
- MNI: US MBA: MARKET COMPOSITE +2.7% SA THRU JUN 27 WK
PIPELINE: Corporate Bond Roundup: SoftBank Grp, Korea Gas, Bank of Kuwait on Tap
Jul-02 10:54
- Date $MM Issuer (Priced *, Launch #)
- 07/02 $Benchmark Korea Gas 3Y SOFR+100a, 5Y +85a
- 07/02 $Benchmark National Bank of Kuwait PerpNC6 6.875%a
- 07/02 $Benchmark SoftBank Group 3.75Y 6.75%a, 5.5Y 7.125%a, 7 Y 7.500%a, 10Y 7.875%a (in addition to 3 Eur tranches) Note, SoftBank Corp issued $1B over 2 tranches on Monday.
- $1.75M Priced Tuesday, $13.5B/wk
