FED: US TSY 20Y BOND AUCTION: HIGH YLD 4.706%; ALLOT 62.39%

• RES 4: 0.8835 High May 3 2023  
• RES 3: 0.8800 Round number resistance 
• RES 2: 0.8769 High Jul 28 and the bull trigger 
• RES 1: 0.8725/8751 High Oct 10 & 17 / High Sep 25  
• PRICE: 0.8687 @ 17:12 BST Oct 20
• SUP 1: 0.8678/8656 50-day EMA / Low Aug 10
• SUP 2: 0.8633 Low Sep 15 
• SUP 3: 0.8597 Low Aug 14 and key support 
• SUP 4: 0.8562 50.0% retracement May 29 - Jul 28 upleg

EURGBP is unchanged and remains in consolidation mode. The trend condition is bullish and recent weakness appears corrective. Support to monitor lies at the 50-day EMA, at 0.8678. It has been pierced, a clear break of this level would signal scope for a deeper retracement towards 0.8633, the Sep 15 low. Key trend support lies at 0.8597, the Aug 14 low. Key resistance and the bull trigger is at 0.8769, the Jul 28 high. 

• Date $MM Issuer (Priced *, Launch #)
• 10/20 $2.5B #Truist Bank $1.25B 4NC3 +67, $1.25B 11NC10 +98 (no 4NC3 SOFR leg)
• 10/20 $2B #American Express 11NC10 +82
• 10/20 $1.5B #Cargill $750M 5Y +60, $750M 30Y +80
• 10/20 $1B #State St Corp 11NC10 +80
• 10/20 $1B Versant Media Group 5.25NC2 investor call
• 10/21 $Benchmark World Bank 5Y SOFR+41a expected Tuesday
• 10/21 $Benchmark Kingdom of Sweden 3Y SOFR+30a expected Tuesday

• US Data/Speaker Calendar (prior, estimate)
• 10/21 0830 Philadelphia Fed Non-Mfg Activity (-12.3, --)
• 10/21 0855 Redbook Retail Sales Index
• 10/21 1130 US Tsy $95B 6W bill auction 
• Source: Bloomberg Finance L.P. / MNI