EU CONSUMER STAPLES: Brewer & Spirit Debt coming due this year
Feb-19 09:34
Most are levered in target and guiding to some earnings growth (i.e. we would expect at the least refi supply). The total across the sector is brought lower thanks to AB-Inbev being light in maturities.
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STIR: Citi Recommend Selling The SFIM5/M6 Spread
Jan-20 09:31
Citi recommended selling the SFIM5/M6 spread late last week.
- They noted that although the risk of an inflation resurgence later in 2025 is ”likely most acute in the UK, this may not rule out faster rate cuts later on from the BoE”
EQUITIES: The Banking sector leads in Europe, at a new multi Years high
Jan-20 09:25
- The Banking sector leads in Europe, SX7E Index makes a new 9.5yrs high, highest since August 2015, and this chart is one of the more interesting one going into 2025.
- The main upside of interest is at 163.34, the 2014 high and also the highest printed level since November 2011.
- SX5E is also making new 20yrs High (highest since Sep 2000), and the next hurdle will be eyed at 5200.00, now trading at 5160.00.
(Chart source: MNI/Bloomberg).
EUR: The EUR extends broader high
Jan-20 09:14
- The EUR is seeing broader base buying, testing intraday highs against the CAD, GBP, NOK, JPY, CHF, AUD and the SEK, while the EURUSD still lags somewhat, it is still leading and is up 0.40% on the day.
- After mostly seeing a mixed overnight session for the EUR, it is now in the green versus most G10s.
- EURGBP is testing the immediate resistance right here at 0.8463 High Jan 15, ahead of the next area of interest at 0.8471 61.8% retracement of the Aug 8 - Dec 19 downleg.
