EQUITIES: US cash opening calls
Oct-05 13:24
- SPX: 3,747.6 (-1.1%)
- DJIA: 29,964 (-1.2%/-353pts)
- NDX: 11,434.6 (-1.3%)
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US 10YR FUTURE TECHS: (Z2) Bear Threat Remains Present
Sep-05 12:56
- RES 4: 119-18 High Aug 17
- RES 3: 118-15 50-day EMA
- RES 2: 117-29/118-00 20-day EMA / High Aug 26
- RES 1: 117-07+ High Aug 31
- PRICE: 116-06+ @ 13:44 BST Sep 5
- SUP 1: 115-23 Low Sep 1 and the bear trigger
- SUP 2: 114-26 Low Jun 16
- SUP 3: 114-06 Low Jun 14 and a key support
- SUP 4: 114-00 Round number support
Treasuries remain vulnerable despite the modest bounce on Friday, with the bearish theme still intact for now. The recent breach of 117-11+, Jul 21 low, reinforced bearish conditions and the subsequent follow through has resulted in the break of 116-01+, 61.8% of the Jun 14 - Aug 2 rally. The break supports the case for a move back to 114-06, Jun 14 low. Initial firm resistance has been defined at 118-00, Aug 26 high.
FRANCE T-BILL AUCTION RESULTS: 13/22/40/48-week BTFs
Sep-05 12:55
| Type | 13-week BTF | 22-week BTF | 40-week BTF | 48-week BTF |
| Maturity | Jul 12, 2022 | Feb 8, 2023 | Jun 14, 2023 | Aug 9, 2023 |
| Amount | E3bln | E1.176bln | E380mln | E1.299bln |
| Target | E2.6-3.0bln | E0.9-1.3bln | E0-0.4bln | E0.9-1.3bln |
| Previous | E2.695bln | E1.585bln | E600mln | E1.298bln |
| Avg yield | 0.039% | 0.160% | 0.473% | 0.746% |
| Previous | -0.027% | 0.084% | 0.219% | 0.658% |
| Bid-to-cover | 2.3x | 3.61x | 3.53x | 3.77x |
| Previous | 3.07x | 3.68x | 7.15x | 3.94x |
| Previous date | Aug 29, 2022 | Aug 29, 2022 | Jul 11, 2022 | Aug 29, 2022 |
EGB SYNDICATION: Italy Green 2035
Sep-05 12:11
- "The Republic of Italy has mandated BofA Securities, Citi, Credit Agricole CIB, Deutsche Bank and MPS Capital Services to joint lead manage a new Green BTP Benchmark with maturity on April 2035."
- "The transaction is expected to be launched in the near future subject to market conditions. All other Specialists will be invited as Co-Lead Managers."
From market source
- Note this is a second EGB syndication announcement today in additional to the French 20y mandate announced this morning.
