EGBS: Mixed Germany / EZ PMIs Temper France-induced Dovish Reaction

Slovak opposition withdrew a no-confidence motion against PM Robert Fico's cabinet from parliament after the government fought back, with the premier accusing his rivals planning a "coup" against legally elected officials. However, opposition lawmakers are reportedly preparing to repeat their attempt to unseat the government soon.

• Yesterday's debate in parliament took place behind closed doors after Fico said he would be citing classified information from a report provided by the Slovak Intelligence Service (SIS).
• Denik N reported that President Peter Pellegrini was due to visit SIS headquarters this morning to discuss the classified report but there would be no update for the media.
• The main opposition Progressive Slovakia (PS) party said it would request convening an extraordinary oversight committee to investigate an alleged misuse of the SIS by the government.
• Furthermore, PS leader Michal Simecka announced that the opposition will make another attempt to call a special meeting of parliament and table a no-confidence motion against the government.

• Spread set at 3.45% Oct-34 Obli (mid) +5bp
• Guidance was +8bp area then revised to +6bp area (+/1bp WPIR)
• Size: EUR benchmark (MNI expects E10-15bln)
• Books in excess of E155bln
• Maturity: 30 April 2035
• Coupon: Short first
• ISIN: ES0000012O67
• Settlement: 29 January 2025 (T+5)
• Bookrunners: BBVA, CACIB, DB (B&D/DM), JPM, MS, SANTANDER
• Timing: Books to close at 10:40GMT / 11:40CET

From market source

FX Exchange traded Option, this looks to be a new position, it covers the next Fed, BoE and ECB.

• EURUSD (7th Feb) 1.0200p, sold today at 0.00090 in ~3.16k.

This was also sold Yesterday at 0.0102 in 2.35k.