EM LATAM CREDIT: SLB SAYS MEXICO ACTIVITY TO DECLINE; OFFSET BY LATIN AMERICA
Jan-17 15:39
"*SLB SAYS MEXICO ACTIVITY TO DECLINE; OFFSET BY LATIN AMERICA" - BBG
PEMEX 7.69% 2050, $75.87, -.11
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MNI: US EIA: CRUDE OIL STOCKS EX SPR -0.93M TO 421.0M DEC 13 WK
Dec-18 15:30
- US EIA: CRUDE OIL STOCKS EX SPR -0.93M TO 421.0M DEC 13 WK
- US EIA: DISTILLATE STOCKS -3.18M TO 118.2M IN DEC 13 WK
- US EIA: GASOLINE STOCKS +2.35M TO 222.0M IN DEC 13 WK
- US EIA: CUSHING STOCKS +0.11M TO 23.0M BARRELS IN DEC 13 WK
- US EIA: SPR +0.52M TO 393.0M BARRELS IN DEC 13 WK
- US EIA: REFINERY UTILIZATION WEEK CHANGE -0.6% TO 91.8% IN DEC 13 WK
MNI EXCLUSIVE: MNI: Italy Makes NextGenEU Targets Easier - Gov't Sources
Dec-18 15:25
Italy is making changes to its huge NGEU programme, from which it still hopes for EUR191 billion.- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
BONDS: Off Lows, Cross-Market Cues & Technicals Eyed
Dec-18 15:19
Some pre-U.S. cash equity open weakness in e-minis, as well as a hold of technical support in Bunds and intraday lows in gilts, allowed core global FI markets to recover from session lows.
- Tsys outperform, narrowing by 2.5bp to Bunds, while the gilt/Bund 10-Year spread is on track to close above 230bp, which would represent a fresh multi-decade high.
- Macro headline flow limited, leaving cross-market cues and technicals at the fore ahead of today’s major risk event, the final FOMC decision of ’24.
- With markets essentially fully discounting a 25bp rate cut, focus should quickly turn to the post decision communique (assuming a cut is delivered).
- The ’25 dot in the SEP will be eyed in the first instance.
- We believe that the dot plot will show 75bp of cuts in 2025 - 25bp less than the 100bp seen in the last edition - with 2026, 2027 and the Longer-Run dot also in line for increases.
- Click for our full preview.
