EUROZONE ISSUANCE: EU Sends RfP For Upcoming Issue
Mar-28 17:49
From a market source: "The EUROPEAN UNION, rated AAA (Fitch) / Aaa (Moody's) / AAA (Scope) / AA+ (S&P), has sent an RfP to institutions selected in accordance with Commission Decision 2023/1602 for further funding needs under its EU issuance programme, to be executed in the near future."
- There is an EU bond syndication that had been expected for the week commencing April 7.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
BUNDS: Through Day's Highs, Nearing Key Resistance On Trump EU Tariff Headlines
Feb-26 17:46
Bund futures push through the day's highs on US Pres Trump's announcement that 25% tariffs would be imposed on EU imports.
- RXH5 touches 132.89, up 41 ticks on the day - the level to watch is 132.97, the Feb 13 high and a key near-term resistance, clearance through which our tech analyst notes would signal a reversal.
FED: US TSY 7Y AUCTION: NON-COMP BIDS $85 MLN FROM $44.000 BLN TOTAL
Feb-26 17:45
- US TSY 7Y AUCTION: NON-COMP BIDS $85 MLN FROM $44.000 BLN TOTAL
BONDS: EGBs-GILTS CASH CLOSE: Peripheries Outperform As Equities Gain
Feb-26 17:42
European curves traded slightly flatter Wednesday, with short-ends underperforming, and periphery / semi-core EGBs outperforming.
- An early bid in core FI alongside weaker equities, a further fall in gas prices and and a stronger US dollar faded over the course of the session as the latter recovered. The Bund rally continued after the cash close in futures as US President Trump announced 25% tariffs would be imposed on EU products.
- Data was scant either side of the Atlantic: German GfK consumer confidence fell to the lowest since April, while the IFO employment barometer suggested that job cuts continue.
- BOE's Dhingra noted that higher US tariffs on UK imports are unlikely to greatly impact UK inflation.
- Bunds outperformed Gilts across most of the respective curves, with twist flattening in both.
- Periphery EGB spreads tightened into the cash close as equities rallied. In semi-core, OATs outperformed, finishing close to the 2025 low of 70.8bp.
- The February Eurozone flash inflation round starts Thursday with Spain - MNI's preview of the round is here. We also get various Eurozone confidence indicators and the accounts of the January ECB meeting.
Closing Yields / 10-Yr EGB Spreads To Germany
- Germany: The 2-Yr yield is up 0.3bps at 2.068%, 5-Yr is down 1.9bps at 2.196%, 10-Yr is down 2.5bps at 2.433%, and 30-Yr is down 2.7bps at 2.696%.
- UK: The 2-Yr yield is up 0.1bps at 4.175%, 5-Yr is unchanged at 4.182%, 10-Yr is down 0.7bps at 4.502%, and 30-Yr is down 0.8bps at 5.094%.
- Italian BTP spread down 1.8bps at 111.2bps / French OAT down 2.2bps at 71.7bps
