EM ASIA CREDIT: SK Hynix (HYUELE): FY results on the tapes

A screen sale of TYH6 helps cap the aforementioned bid, 1.9K given at 112-23.

Zelensky arrived at Mar-a-Lago yesterday evening for the latest meeting with President Trump, at which progress appears to be being made on proposals to end the war with Russia.

• Ahead of the meeting, Trump stated there are the "makings of a deal" - comments that seem to stem from Zelensky leaving open the possibility that Ukraine could surrender territory in the Donbas in return for a ceasefire along current lines. The caveat being the proposals would be subject to a referendum among the Ukrainian population.
• Expectedly, Putin has already rejected these terms for a ceasefire, which they see as only temporary and resulting in a "prolongation" of the war, but Russia and the US remain engaged. Zelensky described the talks as "90%" of the way to a deal.
• On the frontlines, this adds pressure to both sides to retain, or grow, their currently held territory - with Trump suggesting yesterday that Russia would soon capture all the remaining Donbas - adding pressure to Ukraine to accept a proposed deal.

TYH6 paper paid 112-21+ on ~1.66K, helping underpin core global FI markets in recent trade. Liquidity remains hampered by the Christmas-NY holiday period, with no fresh headline flow noted as Europe comes back online after the long weekend.