EM CEEMEA CREDIT: QIIKQD: Moody’s affirms, neutral take
May-08 06:58
Qatar Islamic International Bank (QIIKQD; A2/-/A)
Moody’s affirms, neutral take
- Qatar’s QIIB got its ratings affirmed by Moody’s today at A2, stable outlook. The agency cites “ very high probability of government support” among other factors. The uplift is at four notches.
- Profitability, franchise, cost efficiency and a solid capital position are also noted. Asset quality still solid and not a major concern at this stage, watch for trajectory of NPFs.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GILTS: Opening calls
Apr-08 06:57
Gilt Calls, 91.69/91.75 range.
EQUITIES: EU Cash Opening calls
Apr-08 06:55
EU Cash Opening calls, set for a punchy Open.
- Calls: Estox 50: +1.90%, Dax: +1.72%, CAC: +1.42%, FTSE +1.43%, SMI +2.05%.
STIR: Euribor Futures Soften Alongside Bunds; Tariff Developments Key As Ever
Apr-08 06:53
Euribor futures are -1.5 to -2.5 ticks through the blues versus yesterday’s settlement levels, softening alongside Bunds amid a modest stabilisation of risk yesterday evening. With today’s regional data calendar light, focus remains squarely on further tariff-related headlines.
- ERZ5 is -1.5 ticks at 98.215, after briefly reaching a multi-month high of 98.335 in yesterday’s session.
- ECB-dated OIS continue to assign a ~90% implied probability of a 25bp rate cut at next Thursday’s decision, while 77bps of cuts are priced through year-end vs 78bps at yesterday’s close.
- Holzmann ECB’s (hawk) and Cipollone (dove) are scheduled to speak today. Holzmann has repeatedly noted in recent weeks that he no longer views policy rates as restrictive, and would consider voting for a hold in April.
- Meanwhile, Cipollone has previously warned of the disinflationary impact of Chinese trade diversion following US tariffs, alongside continued worries around the Eurozone growth outlook.
| Meeting Date | ESTR ECB-Dated OIS (%) | Difference Vs. Current Effective ESTR Rate (bp) |
| Apr-25 | 2.193 | -22.1 |
| Jun-25 | 1.976 | -43.8 |
| Jul-25 | 1.865 | -54.9 |
| Sep-25 | 1.747 | -66.7 |
| Oct-25 | 1.706 | -70.8 |
| Dec-25 | 1.647 | -76.7 |
| Feb-26 | 1.637 | -77.8 |
| Mar-26 | 1.633 | -78.1 |
| Source: MNI/Bloomberg. | ||
