MEXICO: Stability Committee Say Economic Outlook Remains Uncertain
Jun-29 16:59
- (Reuters) - Mexico's financial system stability committee said on Thursday the country's economic outlook remains uncertain, citing persistent risks of further weakening of economic activity stemming from a complex external environment. They added that the financial system is resilient and in general has a solid position.
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PIPELINE: $5B CVS 5Pt, $1.6B TD Bank Launched
May-30 16:58
- Date $MM Issuer (Priced *, Launch #)
- 05/30 $5B #CVS Health Corp $1B +5Y +125, $750M +7Y +155, $1.25B 10Y +165, $1.25B 30Y +200, $750M 40Y +215
- 05/30 $1.6B #TD Bank 3Y SOFR+73
- 05/30 $Benchmark AT&T +10Y +175
- 05/30 $Benchmark AerCap Ireland 5Y +240a
- 05/30 $Benchmark NiSource 5Y +135, 10Y +175
- 05/30 $Benchmark Kexim Bank 10Y +120a
- 05/30 $Benchmark FAB (First Abu Dhabi Bank) 5Y Green (order book >$1B)
- Rolled to Wednesday
- 05/31 $Benchmark Bank of Montreal 3Y, 3Y SOFR
STIR: Near-Term Fed Rates Firm But With Offsetting Decline Come Year End
May-30 16:58
- Fed Funds implied rates have continued to steadily push higher for the June FOMC through most of the US session, after earlier briefly pausing and dipping on Conference Board consumer confidence (stronger than expected but with revisions altering the trajectory and a softer labor differential ahead of Friday’s payrolls report) and a miss for the Dallas Fed mfg index.
- It now prices 17bp of hikes for Jun and a cumulative 27bp for July (up 1bp and 2bp respectively since Friday’s close).
- It’s not a clean lift across subsequent meetings though, at least compared to Friday, with the 37bp of cuts from the July terminal to 4.98% at year-end still down -1.5bp.
OPTIONS: More Modest Upside Rate Structures Tuesday
May-30 16:52
Tuesday's Europe rates / bond options flow included:
- ERM3 96.375/96.50/96.625c fly, sold at 4 in 5k
- 0RU3 96.875/97.125/97.375 call fly Bot for 3.25 in 4k
- SFIU3 94.70/94.85cs vs 94.30/93.95ps, bought the cs for -1 in 1.5k
- SFIU3 94.70/94.85cs vs 94.30/93.95ps, bought the cs for -1 in 1.5k
