EMERGING MARKETS: Price Signal Summary - Gold Bull Cycle Still In Play
Mar-19 12:03
* On the commodity front, a clear uptrend in Gold remains intact and this week's resumption of the...
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SONIA: SONIA FIX - 17/02/25
Feb-17 12:02
SONIA FIX - Source: BBG/ICE
- 1M 4.46450 0.0005
- 3M 4.43330 -0.0093
- 6M 4.33110 -0.0026
- 12M 4.19930 0.0104
OUTLOOK: Price Signal Summary - Bund Futures Pierces A Trendline Support
Feb-17 11:59
- In the FI space, Bund futures are trading lower and in the process have pierced an important short-term support at 132.05, a trendline drawn from the Jan 15 low. A clear break of this line would strengthen a bearish theme and signal scope for an extension towards 131.59 next, the 61.8% retracement of the Jan 14 - Feb 5 bull leg. Below 131.59, lies 131.00, the Jan 25 low and a key support. For bulls, a resumption of gains would refocus attention on the bull trigger at 133.71, Feb 5 high.
- A bull cycle in Gilt futures remains in play and the latest pullback appears corrective for now. Last Thursday’s gains are a positive development and appears to be a bullish engulfing candle. A resumption of gains would open 94.35, the Feb 6 high and a bull trigger. Clearance of this level would open 94.75, the 76.4% retracement of the Dec 3 - Jan 13 bear leg. The next firm support to watch lies at 91.52, the Jan 24 low.
ESM ISSUANCE: 10-year Feb-35 syndication: Allocations out
Feb-17 11:52
- Size: E2bln WNG
- Books closed in excess of E8.5bln (ex JLM interest)
- Spread set earlier at MS+42bps (guidance was MS+45 area)
- HR 98% vs 2.50% Feb-35 Bund
- Maturity: 26 February 2035
- Coupon: Long first
- Settlement: 24 February, 2025 (T+5)
- ISIN: EU000A1Z99W5
- Bookrunners: BofA (DM/B&D), DB, Santander
- Timing: Hedge deacline 12:10GMT / 13:10CET
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