EM CEEMEA CREDIT: LNGFOR: Profit warning
Mar-07 14:23
Longfor (LNGFOR: Ba3Neg/BB-Neg/BBNeg) "*LONGFOR GROUP SEES 2024 CORE NET PROFIT DOWN ABOUT 35% TO 4...
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STIR: Light Hawkish Reaction In Euribor Futures To Lane Speech
Feb-05 14:21
Light hawkish reaction in Euribor futures to Chief Economist Lane’s prepared remarks, seemingly on initial headlines covering upside inflation risks.
- Futures were already moving a little lower ahead of the speech’s release.
- ERZ5 is +0.5 ticks at 98.080, down from 98.100 around ~30 minutes ago.
- Overall, Lane’s comments were very much in line with President Lagarde’s press conference last Thursday. He also already referenced the need for policy rates to track a “middle path” earlier this month (Jan 13).
- ECB-dated OIS price ~87bps of easing through year-end, down from ~89bps before the speech was released.
| Meeting Date | ESTR ECB-Dated OIS (%) | Difference Vs. Current Effective ESTR Rate (bp) |
| Mar-25 | 2.418 | -24.9 |
| Apr-25 | 2.226 | -44.1 |
| Jun-25 | 2.037 | -63.0 |
| Jul-25 | 1.952 | -71.5 |
| Sep-25 | 1.855 | -81.2 |
| Oct-25 | 1.834 | -83.4 |
| Dec-25 | 1.792 | -87.5 |
| Feb-26 | 1.793 | -87.4 |
| Source: MNI/Bloomberg. | ||
US TSY FUTURES: BLOCK: March'25 30Y Ultra-Bond Buy
Feb-05 14:18
- +2,000 WNH5 120-29, buy through 120-27 post time offer at 0910:43ET, DV01 $380,000. The 30Y Ultra contract trades 121-03 last (+1-12).
PIPELINE: Corporate Bond Issuance Surge: IBM, PepsiCo, Turkiye & Poland on Tap
Feb-05 14:16
- Date $MM Issuer (Priced *, Launch #)
- 02/05 $1B #KFW 4% 2026 TAP SOFR+20
- 02/05 $Benchmark IBM 3Y +65a, 5Y +80a, 7Y +90a, 10Y +100a, 30Y +125a
- 02/05 $Benchmark PepsiCo 2Y +45a, 3Y +50a, 5Y +60a, 10Y +80a
- 02/05 $Benchmark UBS PerpNC5.5 7.5%a, PerpNC10 7.625%a
- 02/05 $Benchmark US Bancorp 6NC5 +100a, 11NC10 +125a
- 02/05 $Benchmark Citigroup PerpNC5 7.37%a
- 02/05 $Benchmark Citadel Finance 5Y +195a
- 02/05 $Benchmark Pacific Life 5Y +80a
- 02/05 $Benchmark IDA 10Y SOFR+61
- 02/05 $Benchmark IFC 4.5Y SOFR+36a
- 02/05 $Benchmark Minera Mexico 7Y +175a
- 02/05 $Benchmark Republic of Turkiye 7Y 7.5%a
- 02/05 $Benchmark Republic of Poland 5Y +85a, 10Y +115a
