EM CEEMEA CREDIT: Romania: €BM L7Y, 12Y and 20Y - Books
Oct-02 12:46
(ROMANI; Baa3neg/BBB-neg/BBB-neg)
IPT: L7Y MS+340A, 12Y MS+385A and 20Y MS+415A
FV: L7Y MS+300, 12Y MS+350 and 20Y MS+370
Guidance: L7T MS+10a, 12Y MS+360a and 20Y MS+385a
See link for FV: https://mni.marketnews.com/4nuUpAa
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PIPELINE: Corporate Bond Update: Near 2-Dozen Issuers Hit Market
Sep-02 12:44
Prop, Real$ and fast$ acct rate lock hedging ahead flood of US$ corporate issuance:
- Date $MM Issuer (Priced *, Launch #)
- 09/02 $Benchmark Merck 2Y +45a, 2Y SOFR, 5Y +70a, 7Y +80a, 10Y +90a, 30Y +100a
- 09/02 $Benchmark CIBC 3NC2 +80a, 3NC2 SOFR, 6NC5 +100a, 6NC5 SOFR
- 09/02 $Benchmark Volkswagen Grp of AM 2Y +110a, 3Y +120a, 5Y +135a
- 09/02 $Benchmark MUFG 6NC5 +105a, 11NC10 +120a, PerpNC10 6.875a
- 09/02 $Benchmark Sumitomo Mitsui Trust 3Y SOFR, 5Y, 11NC10 +145a
- 09/02 $Benchmark Kingdom of Saudi Arabia Sukuk 5Y +95a, 10Y +105a
- 09/02 $Benchmark Mitsubishi 3Y +65a, 3Y SOFR, 5Y +75a, 10Y +90a
- 09/02 $Benchmark Toyota Cr 3Y +70a, 3Y SOFR, 7Y +95a
- 09/02 $Benchmark American Honda 3pt guidance TBA
- 09/02 $Benchmark Ford Motor Cr 5Y, 5Y SOFR
- 09/02 $Benchmark Brazil 11/30 tap 5.45%a, 30Y +7.75%a
- 09/02 $Benchmark Norinchukin 5Y +125a, 10Y +140a
- 09/02 $Benchmark Credit Agricole PerpNC10 7.5%a
- 09/02 $Benchmark Nomura 10.75NC5.75 +160a
- 09/02 $Benchmark Antofagasta 10Y +175a
- 09/02 $Benchmark Ares Capital +5Y +180a
- 09/02 $Benchmark HSBC 11NC10 +170a
- 09/02 $Benchmark ING PerpNC7 7.37%a
- 09/02 $Benchmark Guardian Life 3Y, 7Y
- 09/02 $Benchmark OKB 5Y SOFR+46a
- 09/02 $Benchmark Orix Corp 5Y +95a
CROSS ASSET: A new 14yrs high for the German 30yr Yield
Sep-02 12:35
- A new 14yrs high for the German 30yr Yield, highest since July 2011.
- Next upside level is at 3.45%, and this would equate to 111.16 in UBU5 Today.
- Tnotes and wider Treasuries are getting dragged by Europe, with some decent volumes going through.
- Next support in TYZ5 comes at 111.26.
- USDJPY is clearly supported by the price action, and next resistance is now at 149.12 (61.8% of Aug 1 - 14 bear leg).
USD: Greenback Topside Momentum Gathering Pace
Sep-02 12:34
- The persistent upward pressure on US yields and the latest weakness for equities is boosting the intra-day momentum for the dollar, with the USD index extending the day’s advance to ~0.85%.
- Weakness for GBP and JPY continue to standout in G10, although the likes of AUD and NZD are now down close to 1% on the session.
- For GBPUSD, we are now below a pivot point of 1.3370 and the immediate focus will be on trendline support, drawn from the years lows. This level intersects around the 1.33 handle. Below here, 1.3249 is another notable chart level, the 76.4% retracement of the Aug 1 - 14 bull leg.
