BRAZIL: Measures To Curb Food Price Pressures To Be Discussed Today
Mar-06 13:50
- Bloomberg reports that the government will hold new meetings today to discuss measures to curb rising food prices. According to local media, VP Alckmin will hold one meeting with the Finance Ministry and another with representatives of the agricultural and supermarket sectors.
- President Lula is not expected to take part in the meetings and no announcements are expected.
- The meetings come amid a decline in Lula’s popularity, which has taken a hit from high food price inflation, a topic that has received much attention in recent months.
- Last week, we noted that Agriculture Minister Carlos Favaro was reportedly asking food producers to come up with proposals to contain additional price increases, with reports that the measures would be decided by the government after the Carnival holiday.
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PIPELINE: Corporate Bond Issuance Roundup: Accelerating
Feb-04 13:45
- Date $MM Issuer (Priced *, Launch #)
- 02/04 $3B #EIB WNG 10Y +60a
- 02/04 $1B KFW 4% 2026 TAP SOFR+20
- 02/04 $Benchmark Valero Energy 5Y +115a
- 02/04 $Benchmark BNG Bank 3Y SOFR+37
- 02/04 $Benchmark Foundry JV 6Y, 8Y, 11Y, 12Y, 14Y
- 02/04 $Benchmark GATX 10Y +125a, 2054 Tap +140a
- 02/04 $Benchmark BNY Mellon 6NC5 +85, 6NC5 SOFR
- 02/04 $Benchmark National Fuel Gas 5Y +145a, 10Y +175a
- 02/04 $Benchmark NextEra Capital 30.5NC5.25, 30.5NC10.25
- 02/04 $Benchmark L-Bank 5Y SOFR+47a (2Y SOFR dropped)
EGB SYNDICATION: Croatia 12-year CROATI: Final terms
Feb-04 13:43
- Spread set at MS + 90bps (IPTs were +120bp area, guidance: + 95bp area)
- Size: E2bln (MNI expected E1.5bln)
- Books in excess of E5bln (inc E175mln JLM interest)
- Maturity: 11 February 2037 (12-year)
- Settlement: 11 February 2025 (T+5)
- ISIN: XS2997390153
- Joint Bookrunners: Erste Group, IMI-Intesa Sanpaolo/PBZ, ING (B&D), J.P. Morgan, Morgan Stanley
- Timing: Books subject, allocations / pricing later today
From market source
GOLD: At a new all time record high
Feb-04 13:29
- Not seeing much in terms of move in the Dollar, but Platinum and Gold are seeing some demand here, it is not a session high for Platinum yet, but some investors will be watching Gold, as it tests a fresh all time record high.
- Next immediate resistance is seen at $2845.2 - 1.382 proj of the Nov 14 - Dec 12 - 19 price swing.
- There's some spillovers into Silver, testing the late January high, the highest printed level since 12th December.
- The next resistance in Silver will be $32.338 - High Dec 12 and a key resistance.
