MEXICO: Trump Confirms Agreement to Pause Tariffs on USMCA Items Until April 02
Mar-06 16:39
- Latest from Trump via Truth Social:
- "After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement. This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum. Our relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl. Thank you to President Sheinbaum for your hard work and cooperation!"
- Given the Lutnick comments dropping earlier, this latest social media post from Trump appears in line with expectations and as such, we are seeing very little movement in Mex. Certainly feels like a positive for the US/Mex relationship at the margin, and could put Sheinbaum's Sunday 'event' on counter measures at risk. More details potentially at Sheinbaum's daily press conference at the later time of 1700GMT(1200ET) today.
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EGB SYNDICATION: Croatia 12-year CROATI: Priced
Feb-04 16:35
- Reoffer price 99.745 to yield 3.276%
- Spread set at MS + 90bps (IPTs were +120bp area, guidance: + 95bp area)
- Coupon: 3.25%
- Size: E2bln (MNI expected E1.5bln)
- Final books in excess of E4.4bln
- HR 88% vs 4.00% Jan-37 Bund (ref: 115.14 / 2.513%)
- Maturity: 11 February 2037 (12-year)
- Settlement: 11 February 2025 (T+5)
- ISIN: XS2997390153
- Joint Bookrunners: Erste Group, IMI-Intesa Sanpaolo/PBZ, ING (B&D), J.P. Morgan, Morgan Stanley
- Timing: TOE 16:09GMT / 17:09CET. FTT Feb 5th @ 16:45GMT / 17:45CET
From market source / BBG
FED: US TSY 42D AUCTION: HIGH RATE 4.250%; 71.47% AT HIGH
Feb-04 16:32
- US TSY 42D AUCTION: HIGH RATE 4.250%; 71.47% AT HIGH
- US TSY 42D BILL AUCTION: DEALERS TAKE 35.33% OF COMPETITIVES
- US TSY 42D BILL AUCTION: DIRECTS TAKE 2.75% OF COMPETITIVES
- US TSY 42D BILL AUCTION: INDIRECTS TAKE 61.92% OF COMPETITIVES
- US TSY 42D AUCTION: BID/COVER 2.80
EGB SYNDICATION: Croatia 12-year CROATI: Priced
Feb-04 16:28
- Reoffer price 99.745 to yield 3.276%
- Spread set at MS + 90bps (IPTs were +120bp area, guidance: + 95bp area)
- Size: E2bln (MNI expected E1.5bln)
- Final books in excess of E4.4bln
- HR 88% vs 4.00% Jan-37 Bund
- Maturity: 11 February 2037 (12-year)
- Settlement: 11 February 2025 (T+5)
- ISIN: XS2997390153
- Joint Bookrunners: Erste Group, IMI-Intesa Sanpaolo/PBZ, ING (B&D), J.P. Morgan, Morgan Stanley
- Timing: FTT 16:45CET, Feb 5, 2025
From market source / BBG
