Cross assets sees Equities spiking, while Govies fall.
In FX, USD extend losses, and risk tied currencies like the AUD goes bid, following the headline that Russian troops were returning to their base.
Market are overly sensitive, but one thing to note, is that volumes are on the lighter side this morning, which may help exacerbate some of the price action.
As per Bloomberg/Interfax : "The units of the Southern and Western military districts, having completed their tasks, have already begun loading onto rail and road transport and today they will begin moving to their military garrisons. Individual units will march on their own as part of military columns," said Russian Defense Ministry spokesman Igor Konashenkov.".
DUTCH AUCTION PREVIEW: Jul-32 DSL DDA
Feb-15 08:13
The Netherlands will come to the market this morning to launch the new 10-year Jul-32 DSL via DDA. The auction size will be between E4.0-6.0bln and MNI expects issuance at the top of the range.
On offer will be the Jul-32 DSL. ISIN: NL0015000RP1.
Comparable auctions: Today’s launch replaces the 10-year 0% Jul-31 DSL (ISIN: NL00150006U0) as the on-the-run issue. 0% Jul-31 DSL was launched via syndication on February 9, 2021, where E5.99bln was sold at an average yield of -0.316%. The DSL was reopened three times last year. The most recent two reopenings were on June 8 and October 26 last year, issuing E2.2bln and E2.49bln respectively. The June auction saw an average yield of -0.053%, whilst the October auction resulted in a higher yield of 0.014%.
Timing: Books closed for the previous DDA at 11:30GMT / 12:30CET with pricing later in the day.
AUD: AUDNZD is down 0.35%
Feb-15 08:13
AUD extends losses against the Kiwi, down 0.35% on the session.
AUD is in the red against all the majors, besides the KRW.
Market participants continue to fade at 1.0782, today's high, and also printed a 1.0781 high yesterday.