EMISSIONS: Surging AI Power Demand Risks UK 2030 Climate Goals
Jun-05 08:49
Emissions from the UK power sector are set to rise as AI drives soaring demand for electricity, threatening the country’s 2030 decarbonisation targets, according to Bloomberg.
- Data center load could hit 10% of total UK electricity demand by 2030, up from just 4% in 2025, according to Aurora Energy Research.
- To meet this demand growth, gas-fired generation will be increasingly relied upon.
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EGB SYNDICATION: Germany 2.90% Aug-56 Bund Tap
May-06 08:46
- Size: EUR Benchmark Tap of DBR 2.9% 08/15/56 DBR+3.25 Area (MNI expects E4-6bln)
- Books in excess of E30bln (inc E3.595bln JLM interest)
- Spread set: 2.50% Aug-54 Bund + 2.5bp (mid) (guidance was +3.25bp area)
- Settlement: May 13, 2025 (T+5)
- ISIN: DE000BU2D012
- Bookrunners: Barclays, Citi (B&D), CA-CIB, DZ Bank, GS, JPM. Remaining members of the Bund Issues Auction Group will be invited into the co-lead group
- Timing: Books to close at 10:30BST / 11:30CET
From market source
TAIWAN: CB Confirms 80% of FX Reserves Held in US Bonds
May-06 08:42
The Forex Official for Taiwan's central bank confirms that 80% of Taiwan's FX reserves are held in US bonds.
- Taiwan's CB have been active in the market in the past few months - their April FX reserves were ~$582bln and yesterday held an impromptu press conference to address the unusual spike in the TWD - much of which was pinned on the hedging activity of life insurers as well as broad speculative activity
SPAIN T-BILL AUCTION RESULTS: 6/12-month letras
May-06 08:40
| Type | 6-month letras | 12-month letras |
| Maturity | Nov 7, 2025 | May 8, 2026 |
| Amount | E1.692bln | E4.075bln |
| Target | E5.5-6.5bln | Shared |
| Previous | E1.813bln | E4.014bln |
| Avg yield | 1.937% | 1.886% |
| Previous | 2.115% | 2.007% |
| Bid-to-cover | 2.42x | 1.53x |
| Previous | 2.32x | 1.61x |
| Previous date | Apr 08, 2025 | Apr 08, 2025 |
