EM CEEMEA CREDIT: Romania: Near an agreement on a coalition govt

• Equities seem to take their cue from that small bid in US and European Bonds futures, Bund as just pointed out made an attempt at the 130.76 gap, printed a 130.75 high.
• The tick lower in Yields impact the USDJPY, now eyeing a break through the 144.00 Figure.
• A small immediate support is seen here at 144.03, but a clear break through the figure would open to 143.50 (8th May low).

Speaking ahead of a meeting of defence ministers in Brussels, Germany's Boris Pistorius says that following the two-hour call between Russian President Vladimir Putin and US President Donald Trump on 19 May, that Putin "is clearly playing for time" and is not serious about a ceasefire deal. Says that the EU "must further tighten the screw of sanctions on Russia". Pistorius says that the "most effective sanctions against Russia would be further cutting the flow of money from energy sales." Livestream of doorstep interviews at the meeting here. A post meeting presser is due to take place at 1745CET (1145ET, 1645BST). 

• EU foreign ministers also meet today, where they are expected to approve the 17th package of sanctions against Russia. EU High Representative for Foreign Affairs and Security Policy Kaja Kallas says the latest round will be approved today. The relatively swift approval process of this package, even by the usually recalcitrant Hungary and Slovakia, could be seen as an indication of the uncontroversial nature of this latest round of measures. Bloomberg reports the measures "mostly target Russia’s shadow fleet of oil tankers as well as individuals and entities that help Moscow evade energy restrictions. "
• The sanctions are set to hit around 180 vessels in the shadow fleet, raising the total under sanction to ~350 out of the 500-strong fleet of ageing tankers. The Guardian reports the fleet is "estimated to be carrying as much as 85% of Russia’s oil exports and so funding roughly a third of its budget". 

• EUR/USD: $1.1015(E1.1bln), $1.1070-75(E1.8bln), $1.1100-05(E780mln), $1.1195-00(E1.5bln), $1.1245-50(E1.2bln), $1.1300(E1.1bln)
• USD/JPY: Y145.00($795mln), Y145.50($1.0bln), Y146.00($621mln)
• USD/CAD: C$1.3900-15($807mln)