AMERICAS OIL: Chris Wright's Energy Order Prioritizes Abundance: oilprice.com
Feb-13 13:10
Chris Wright's Energy Order Prioritizes Abundance: oilprice.com * Robert Rapier writes Secretary Wr...
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PIPELINE: Corporate Bond Issuance Roundup, Upsized $2.5B CADES Launched
Jan-14 13:09
- Date $MM Issuer (Priced *, Launch #)
- 01/14 $2.5B #CADES 5Y SOFR+68, upsized from $2B
- 01/14 $3B KFW +5Y +40
- 01/14 $2B IFC 3Y SOFR+29
- 01/13 $Benchmark British Colombia 3Y SOFR+45
- 01/14 $Benchmark BNG Bank 5Y SOFR+48
- 01/14 $Benchmark CAF 5Y SOFR+82
- 01/13 $Benchmark Hyundai 3Y +100a
- $14.65B Priced Monday
- 01/13 $2.5B *Standard Chartered $1B 4NC3 +105, $500M 4NC3 SOFR+124, $1B 11NC10 +143
- 01/13 $2B *Deere $1.25B 10Y +68, $750M 30Y +75
- 01/13 $1.75B *Rabobank $700M 3Y +40, $300M 3Y SOFR+60, $750M 8NC7 +100
- 01/13 $1.5B *CBA 5Y SOFR+69
- 01/13 $1.2B *Eastern Energy Gas $700M 10Y +105, $500M 30Y +125
- 01/13 $1B *Micron 10Y +102
- 01/13 $1B *EBRD 5.5Y SOFR+42
- 01/13 $1B *Plains All American 10Y +120
- 01/13 $800M KHFC $500M 5Y +63, $300M 5Y SOFR+90
- 01/13 $750M *Ares Strategic 7Y +175
- 01/13 $650M *Blue Owl Tech Fin 3Y +185
- 01/13 $500M *Apollo Debt Solutions 7Y +185
USD: BofA Note Upside Risks For USD In Near-Term, More Cautious Further Into '25
Jan-14 13:08
Bank of America note that “the USD has picked up in 2025 where 2024 left off - rallying on the dual themes of uncertainty over tariffs and the potential data-induced end to the Fed's cutting cycle.”
- “We expect the Fed is most likely done, which for now remains USD supportive, but what next? If (limited) history is any guide, past "mid-cycle adjustments" have tended to be USD positive, but none occurred at such lofty USD valuations.”
- “Talk of Fed hikes is likely to come but still feels premature to us.”
- “Meanwhile, the USD's support comes despite the opposite move in rate differentials. A possible warning sign? As we have been noting, positioning is crowded and FX sentiment is increasingly consensus, exposing asymmetric risks. “
- They continue to see “near-term USD upside risks but maintain the view that the USD will moderate around mid-year once U.S. economic policy choices become clearer.”
GILT PAOF RESULTS: GBP183.075mln of the 1.25% Nov-54 linker sold.
Jan-14 13:03
- GBP250.0mln had been available.
- This leaves GBP13.933bln of the linker in issue.
