UTILITIES: Italgas (IGIM Baa2/NR/BBB+): FY24 Results

FRBNY EFFR for prior session:

• Daily Effective Fed Funds Rate: 4.33% (+0.00), volume: $102B
• Daily Overnight Bank Funding Rate: 4.33% (+0.00), volume: $302B

{EU} STIR: Stabilisation in wider core global FI markets promotes light dovish flows in EUR STIRs since the middle of the European morning.

• ECB-dated now little changed to ~3bp more hawkish on the day, showing ~91bp of cuts through year-end.
• Euribor futures 1.0-4.0 softer on the day, fading off lows after an initial break of October/November lows in most contracts.
• Little of note in already delivered ECB speak from Lane, Rehn & Vujcic. Vujcic seemingly remains slightly more cautious when it comes to cuts, while Lane & Rehn stuck to the central ECB view.
• Cross-market inputs eyed for the rest of the session, with nothing of note on the European calendar.