EU FINANCIALS: Final Terms: Iccrea Banca €500m 5Y Green Sr Pref

Jan-23 12:10

Final Terms: Iccrea Banca €500m 5Y Green Sr Pref 

  • FT: MS+100
  • Books > €1.6bn, up €0.1bn from initial
  • IPT: MS+130
  • FV: MS+107
  • Exp. Ratings: BBB-/BBB- 

 

Historical bullets

US 10YR FUTURE TECHS: (H5) Trend Needle Points South

Dec-24 12:02
  • RES 4: 112-02   Low Oct 14
  • RES 3: 111-20+ High 6 and the bull trigger   
  • RES 2: 110-28   50-day EMA  
  • RES 1: 110-03+ 20-day EMA
  • PRICE:‌‌ 108-23 @ 11:59 GMT Dec 24
  • SUP 1: 108-13+ Low Dec 24
  • SUP 2: 108-12+ 1.382 proj of the Oct 1 - 14 - 16 price swing
  • SUP 3: 108-00   1.500 proj of the Oct 1 - 14 - 16 price swing   
  • SUP 4: 107-19+ 1.618 proj of the Oct 1 - 14 - 16 price swing

The trend condition in Treasury futures remains bearish, confirmed by the return lower on December 24th. For now, short-term gains are considered corrective. Last week’s sell-off reinforces the current bear cycle. The contract has traded through key short-term support and the bear trigger at 109-02+, the Nov 15 low. The breach confirms a resumption of the downtrend and opens 108+12+, a Fibonacci projection. On the upside, initial firm resistance is at 110-03+, the 20-day EMA.       

LOOK AHEAD: Tuesday Data Calendar: Regional Fed Mfg, Tsy 2Y FRN & 5Y Note Sales

Dec-24 12:01
  • US Data/Speaker Calendar (prior, estimate)
  • Dec-24 0830 Philadelphia Fed Non-Manufacturing Activity (-5.9, --)
  • Dec-24 1000 Richmond Fed Mfg Index (-14, -10)
  • Dec-24 1000 Richmond Fed Business Conditions (10, --)
  • Dec-24 1130 US Tsy $28B 2Y FRN & $70B 5Y Note auctions

EURIBOR OPTIONS: Call fly buyer

Dec-24 11:53

0NH5 96.10/96.30/96.40 broken c fly, bought for 4.25 in 2k.