EU CONSUMER CYCLICALS: Kering | CEO at AGM (x2)
Apr-24 15:17
Below is what it will use to keep a lid on rising leverage (we see 3.3x to 3.7x rise without intervention).
As we said €2b has been tabled over next two years, no details given outside that.
"*KERING CONTINUES TALKS W/ PARTNERS REGARDING PREMIUM PROPERTIES"
*KERING DEPUTY CEO CITES PROPERTIES IN MILAN, NYC, PARIS, TOKYO" -bbg
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STIR: April ECB Pricing Unfazed By Cautious Speakers
Mar-25 15:16
April ECB implied rates have been unfazed by today’s cautious/hawkish leaning Governing Council speakers, with ESTR OIS continuing to price just over a ~65% implied probability of a 25bp cut.
- Both Kazimir and Muller suggested the ECB’s deposit rate was no longer in restrictive territory, evidently not subscribing to ECB staff’s (heavily caveated) 1.75-2.25% nominal neutral range.
- Both speakers (alongside GC colleague Vujcic) noted that the April decision remains an open question.
- February lending data is due on Thursday, before the March flash inflation round kicks off with Spain and France on Friday. Expect the majority of speakers to display a non-committal tone until next Tuesday at the earliest, following the Eurozone-wide inflation print and US President Trump’s next wave of tariff announcements.
- With the exception of the April meeting, OIS-implied rates are higher on the day, tracking similar movements in Euribor implied yields and core EGBs.
OPTIONS: Expiries for Mar26 NY cut 1000ET (Source DTCC)
Mar-25 15:16
- EUR/USD: $1.0690(E912mln), $1.0775-90(E766mln), $1.0900-25(E2.3bln)
- USD/JPY: Y148.00-10($932mln), Y151.74($519mln), Y152.00($955mln)
- AUD/USD: $0.6370-80(A$699mln)
- USD/CAD: C$1.4200($556mln), C$1.4240($634mln), C$1.4500($781mln)
- USD/CNY: Cny7.2430($600mln), Cny7.3000($500mln)
MNI EXCLUSIVE: MNI speaks to Canadian industry experts
Mar-25 15:15
Canadian industry experts assess the country's chances in accessing alternative markets to the U.S - On MNI Policy MainWire now, for more details please contact sales@marketnews.com
