CHINA-RUSSIA: Putin Advisor-Putin & Xi Reaffirmed Close Cooperation In Call
(MNI) London - Russian state-run Tass reports comments from President Vladimir Putin's foreign policy advisor, Yuri Ushako,v following Putin's call with Chinese President Xi Jinping earlier today. Ushakov says that during the 1hr25mins call, the two leaders reaffirmed that "Russia and China can rely on each other." Says they "exchanged opinions on global events amid a very tense and explosive situation in several regions of the world." On geopolitical issues, Ushakov says Xi and Putin discussed tensions around Iran. Xi expressed his support for the tripartite talks in the UAE between Russia, Ukraine, and the US, with Putin providing an update on the situation.
- Ushakov confirms that after an invitation from Xi, Putin will visit China in H126.
- Says the two countries agreed to further develop trade, including in energy. In recent days, the prospect of a blow to Russia's oil export industry has come about following claims from President Trump that, as part of a trade deal, India would stop purchases of Russian oil.
- Ushakov: "Russia and China act in concert, their positions are close and coincide on most issues." This includes their positions on US President Donald Trump's 'Board of Peace.'
- Ushakov says that, with the New START nuclear arms control treaty with the US due to expire on 5 Feb, Putin stressed to Xi that Russia "remains open to finding ways to negotiate strategic stability." It is widely viewed that the old bilateral arms control treaties of the Cold War era between the US and Russia are no longer effective, given the proliferation of nuclear weapons to more states, and the growth of China's nuclear arsenal in recent years.
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EGB SYNDICATION: Slovenia 10-year: Final Spread
- EUR Benchmark 10Y Fixed (March 12, 2036) at MS+37 (Revised Guidance was MS+40 Area, Guidance was MS+45)
- Coupon: Annual, act/act ICMA, long first
- Books above EU7.25b (including JLM interest): Leads
- Size: MNI expects E1.5bln
- Settlement: Jan. 12, 2026 (t+5)
- ISIN: SI0002105227
- Bookrunners: Barclays (B&D), DZ Bank, HSBC, JPM, OTPBSI, RBI
- Timing: May price today.
Details as per Bloomberg, with MNI colour.
OUTLOOK: Price Signal Summary - Trend Set-Up In Bunds Remains Bearish
- In the FI space, recent gains in Bund futures appear to have been a correction and the contract remains in a clear downtrend. A fresh cycle low on Dec 22 confirmed a resumption of the downtrend, signalling scope for a move towards 126.53, the Mar 11 low (cont.). Initial firm resistance is seen at 127.77, the 20-day EMA. A break of this average would signal the start of a stronger correction. The bear trigger is 126.75, the Dec 22 low.
- Recent price action in Gilt futures highlights 90.50, the Dec 16 low, and 91.93, the Nov 27 high, as two important short-term directional triggers. A clear breach of support at 90.50 would signal scope for a deeper retracement towards 89.86, the Nov 19 low and a bear trigger. On the upside, a resumption of gains and a breach of 91.93, would instead open 92.55, the Nov 11 high.
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