EM CEEMEA CREDIT: Sekerbank: Final terms $ AT1

• Seasonally adjusted monthly starts -0.2% in May to 279,510 units, Canada Mortgage and Housing Corp. says Monday.
• Six-month trend was also little changed +0.8% in May to 243,407 units.
• Toronto May YOY housing starts -22% and Vancouver -10%, both due to lower multi-unit starts. Montreal +11% YOY boosted by multi-units.
• “Growth in actual starts activity in May was once again driven by increases of single-detached homes and purpose-built rentals in Québec and the Prairie provinces. By contrast, weak condominium market conditions in Toronto and Vancouver have contributed to significant declines in overall housing starts in these regions,’’ said Tania Bourassa-Ochoa, CMHC’s Deputy Chief Economist.
• Government has pledged to double the pace of homebuilding to address supply squeeze; most economists note a lack of workers to achieve that goal. 

• Date $MM Issuer (Priced *, Launch #)
• 06/16 $3B KFW 2Y SOFR+29a
• 06/16 $1B Level 3 Financing 8NC3
• 06/16 $Benchmark EIB 7Y SOFR+53a
• 06/16 $Benchmark IBK 3Y SOFR+58a, 5Y +45a
• 06/16 $Benchmark Hungary +5Y, +10Y, +30Y 
• 06/16 $Benchmark Enbridge 3Y +100a, 5Y +115a, 10Y +140a, tap 04/05/54 +155a

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(MNI) London – All timings are subject to change.

Monday 16 June:

• Middle East: A fourth day of air strikes by Iran and Israel on one another’s cities and key infrastructure continues following the first Israeli attacks on Iran’s nuclear facilities and key military leaders on 13 June. Leaders from around the world have urged de-escalation, with Israeli PM Benjamin Netanyahu saying no deal can be made until Iran halts its nuclear enrichment programme.
• G7: The annual G7 leaders’ summit continues in Kananaskis in Canada’s western province of Alberta. Initial expectations for the summit’s focus would have been on the realignment of global alliances and trade following US President Donald Trump’s return to the White House, and the war in Ukraine. However, the escalating conflict between Iran and Israel is now likely to dominate proceedings. The official working sessions on 16 June will see leaders discuss: the global economic outlook, economic growth, security and resilience, making communities safe, and making the world secure. A large number of bilateral meetings will take place on the sidelines of the summit, with Trump and Canadian PM Mark Carney holding talks at 11:00ET (16:00BST).