ARGENTINA: State-Run YPF Raises Fuel Prices By 4%
Feb-16 14:55
- According to a company statement, the state-controlled oil company in Argentina, YPF SA, hiked fuel prices by 4%,
- The adjustment “helps offset the devaluation of the official exchange rate, higher logistics and operating costs, and the increase in biofuel prices,” according to the statement.
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PIPELINE: Morgan Stanley Joins List
Jan-17 14:53
- Date $MM Issuer (Priced *, Launch #)
- 01/17 $500M OPEC Fund 3Y SOFR+95a
- 01/17 $Benchmark Morgan Stanley 4NC3 +145a, 4NC3 SOFR, 6NC5 +175a, 15NC10 +270a
- 01/17 $Benchmark Bank of America 4NC3 +145a, 4NC3 SOFR
- 01/17 $Benchmark Target 10Y +115a, 30Y +140a
- 01/17 $Benchmark Woori Bank 5Y +135
- 01/17 $Benchmark JBIC 3Y SOFR+65a
- 01/17 $Benchmark CADES 3Y SOFR+42a
- 01/17 $Benchmark Israel Discount Bank 5Y investor calls
US-EU: USTR Tai: US Places Highest Priority On Addressing EU Trade Fears
Jan-17 14:46
US Trade Representative Katherine Tai has told reporters at the World Economic Forum, ahead of a meeting with European Commission Executive Vice President Valdis Dombrovskis, that the United States places the highest priority on assuaging EU concerns over protectionism.
- 12:00 ET 17:00 GMT 18:00 CET: Tai and Dombrovskis will give a joint press conference: https://audiovisual.ec.europa.eu/en/ebs/1/20230117
- Tai said that a taskforce set-up by Tai and Dombrovskis in October is addressing issues which are complicated and important for both the US and EU: "In terms of the task force's work what I would say is, it's ongoing, it really has the highest priority placed on it from President Biden himself."
- The EU has expressed reservations that US moves to lessen the impact of tax credits and incentives don't go far enough to shelter EU manufacturers.
- EU Commission President Ursula Von Der Leyen gave a speech to the forum this morning outlying the new Green Deal Industrial Plan, a EU response to US Inflation Reduction Act.
- Von Der Leyen: “To keep European industry attractive, there is a need to be competitive with offers and incentives that are currently available outside the European Union."
STIR: Decent SOFR Option Trade, Blocks
Jan-17 14:33
- Broken call tree w/ put fly strip 1.0 over put spd package:
- +25,000 SFRJ3 95.06/95.12/95.25 broken call trees w/
- +25,000 SFRJ 94.87/95.00/95.12 put flys vs. SFRJ3 94.87/94.93 put spd
- Block, 25,000 SFRM3/SFRU3 94.68/94.75 put spd strip, 2.0 total, 0919ET
- Block, 5,000 SFRZ3 94.68/94.75 put spds, 1.0 ref 95.62, 0917ET
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