MIDEAST: Russia Warns Against US Involvement; Putin-Xi Talk On MidEast Conflict

Jun-19 11:03

(MNI) London - Reuters reports headlines attributed to the Kremlin urging Israel to "immediately halt air attacks on the Bushehr nuclear power plant" as "Russian experts" are currently working on site. Kremlin also "repeats warning to the US not to get militarily involved in the Israel-Iran situation". So far, Russia has offered to mediate in the conflict but this has not been taken up by either side and was dismissed out of hand by US President Donald Trump. Speaking to reporters on 18 June, Trump said, “He [Russian President Vladimir Putin] actually offered to help mediate. I said, ‘Do me a favour, mediate your own. Let’s mediate Russia first, okay?’ I said, ‘Vladimir, let’s mediate Russia first, you can worry about this later.’”

  • Comments from the Kremlin come a short time after a call between Putin and Chinese President Xi Jinping. A readout from state-run Xinhua states that Xi proposed an immediate ceasefire, saying "The parties to the conflict, especially Israel, should cease fire as soon as possible", called for all parties to "strictly abide by international law, resolutely avoid harming innocent civilians, and facilitate the evacuation of citizens of third countries", said all sides should "persist in pushing the Iranian nuclear issue back on track for a political solution through dialogue and negotiation", and "the international community, especially major powers that have a special influence on the parties to the conflict, should make efforts to promote the cooling of the situation, rather than the opposite."

Historical bullets

EQUITIES: Estoxx Put Spread

May-20 11:03

SX5E (15th Aug) 4350/3800ps 1x2, bought for 1.4 and 1.5 in 10k.

GILT SYNDICATION: 5.375% Jan-56 gilt: Priced

May-20 10:59
  • Reoffer: 99.566 to yield 5.4047%
  • Size: GBP4.0bln (smaller than MNI expected - that's the average size in the DMO's funding plan with no upsizing)
  • Books closed in excess of GBP74bln pre-rec (inc JLM interest of GBP3.75bln)
  • Spread set: 4.25% Dec-55 gilt (GB00BT7J0241) + 1.75bp (guidance was 1.75bp/2.25bp). Spot ref: 83.05 / HR 114%
  • ISIN: GB00BT7J0241
  • JLMs: BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs International Bank (B&D / DM) and Santander
  • Settlement: 21 May 2025 (T+1)
  • Maturity: 31 January 2056
  • Coupon: 5.375%. Short first
  • Timing: TOE 11:53BST. FTT immediately

From market source / DMO / MNI colour
More details to follow

GILT SYNDICATION: 5.375% Jan-56 gilt: Priced

May-20 10:57
  • Reoffer: 99.566 to yield 5.4047%
  • Size: GBP4.0bln (smaller than MNI expected - that's the average size in the DMO's funding plan with no upsizing)
  • Books closed in excess of GBP74bln pre-rec (inc JLM interest of GBP3.75bln)
  • Spread set: 4.25% Dec-55 gilt (GB00BT7J0241) + 1.75bp (guidance was 1.75bp/2.25bp)
  • ISIN: GB00BT7J0241
  • JLMs: BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs International Bank (B&D / DM) and Santander
  • Settlement: 21 May 2025 (T+1)
  • Maturity: 31 January 2056
  • Coupon: 5.375%. Short first

From market source / DMO / MNI colour
More details to follow