USD: Some notable reversals in the Scandies
Sep-19 13:01
- Since the Dollar is seeing further upside momentum, this has been the direction of travel Today, and a continuation since Yesterday's US IJC beat.
- The focus should be on the Scandies, both the SEK and the NOK are extending lows, the Stokkie now by 1% and the Nokkie by 0.82%.
- The NOK was one of the best performing Currency within G10 so far in September, and the USDNOK is now looking at extending its bounce back towards the 10.0000 handle, the initial resistance.
- We noted this Week that the SEK held the Crown as the best Currency against the USD Year To Date, which it still does, but has now paired some gains to be up 17.25% for that period, from a ~20% high on Wednesday.
- Immediate resistance in the USDSEK comes at the September high, near 9.5000.
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EGB SYNDICATION: Finland New 7-year Apr-32 RFGB: Priced
Aug-20 12:42
- Re-offer: 99.254 to yield 2.751%
From market source
More details to follow - Spread set earlier at MS + 29bp (guidance was MS + 31bps area)
- Size: E4bln (MNI expected E3bln but noted upsizing to E4bln was possible)
- Books in excess of E33bln (inc E2.25bln JLM interest)
- Maturity: 15 April 2032
- Coupon: 2.625%. Short first
- Settlement: 28 August 2025 (T+6)
- Hedge ratio: 110% vs 0% Feb-32 Bund. Spot ref: 85.71 / +34.5bp
- ISIN: FI4000591862
- Bookrunners: Barclays (DM/B&D) / Bofa Securities / Danske Bank / Deutsche Bank / J.P. Morgan
- Timing: TOE 13:29BST / 14:29CET. FTT immediately
From market source / MNI colour
PIPELINE: Corporate Bond Roundup: $3B British Columbia 5Y SOFR Launched
Aug-20 12:38
- Date $MM Issuer (Priced *, Launch #)
- 08/20 $3B #ADB 5Y SOFR+39
- 08/20 $3B #British Colombia 5Y SOFR+53 (books were over $8.7B)
- 08/20 $1B Nordic Investment Bank WNG 3Y SOFR+34
- 08/20 $Benchmark Nordea Bank 5Y +75a, 5Y SOFR
- 08/20 $Benchmark Athene Global 10Y +150a
- $15.9B Priced Tuesday
EURIBOR OPTIONS: Midcurve Call Spread
Aug-20 12:36
0RX5 98.25/98.375cs, bought for 2 in 4k.
