EUR: Single Currency Holds German-Inspired Rally
Mar-14 11:06
EUR holding close to the entirety of the Handelsblatt-tripped rally, having printed 1.0912 to narrow the gap with the key resistance and bull trigger at 1.0947. The move in German bond yields will be proving supportive, as has been the case since Merz outlined his intentions at the beginning of last week.
- The equivalent level in EUR/GBP is 0.8450, the Tuesday high, which could come into consideration if we see further trims to expectations for UK growth this year - Goldman Sachs have already knocked 0.1ppts off their '25 GDP forecast after the below-expectations monthly GDP print this morning.
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Historical bullets
US: SOFR FIX - 12/02/25
Feb-12 11:05
SOFR FIX - Source BBG/CME
- 1M 4.31439 -0.00299
- 3M 4.31802 0.00298
- 6M 4.29233 0.00928
- 12M 4.24398 0.01958
EGB SYNDICATION: France new 30-year OAT: Launched
Feb-12 10:59
- Size: E8bln (MNI expected a E8-10bln size)
- Spread set at 3.25% May-55 OAT + 4bp (guidance: was 7bps area then revised to +5bps +/-1 WPIR)
- Books above E115bln (including E2.84bln JLM interest)
- Maturity: 25 May 2056
- Settlement: 19 February 2025 (T+5)
- Coupon: Fixed, annual ACT/ACT, payable each 25 May. Full first coupon on 25 May 2025
- Bookrunners: BNPP (DM and B&D) / Citi / DB / JPM / SG
- Books closed. Allocations and pricing later today
Details from market source
US TSY OPTIONS: TYH5 110.50 Calls Lifted
Feb-12 10:58
TYH5 110.50 calls paper paid 0-03 on 30K, a few hundred more trade on the follow, offer thins out but market still 0-02/0-03.
