EM CEEMEA CREDIT: SOAF: follow on pol risk headlines
Apr-02 14:01
Rep of South Africa (SOAF; Ba2/BB-pos/BB-) From our EM Macro Team: Per News24, BOSA leader Mmusi Ma...
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FRANCE T-BILL AUCTION RESULTS: 14/23/25/51-week BTFs
Mar-03 13:56
| Type | 14-week BTF | 23-week BTF | 25-week BTF | 51-week BTF |
| Maturity | Jun 12, 2025 | Aug 13, 2025 | Aug 27, 2025 | Feb 25, 2026 |
| Amount | E3.394bln | E598mln | E1.898bln | E1.797bln |
| Target | E3.0-3.4bln | E0.2-0.6bln | E1.5-1.9bln | E1.4-1.8bln |
| Previous | E3.195bln | E498mln | E2.08bln | E1.998bln |
| Avg yield | 2.396% | 2.330% | 2.339% | 2.239% |
| Previous | 2.423% | 2.381% | 2.339% | 2.241% |
| Bid-to-cover | 3.14x | 4.41x | 2.73x | 2.79x |
| Previous | 3.69x | 4.3x | 3.04x | 4.05x |
| Previous date | Feb 24, 2025 | Feb 03, 2025 | Feb 24, 2025 | Feb 24, 2025 |
BUNDS: Extending lower
Mar-03 13:46
- Bund has now closed the gap to 131.44, further downside momentum will open to the February low in futures, at 131.26.
- In Yield Terms, the February high stands at 2.564%, which today would equate to a slightly higher level, up to 131.31.
US: MNI POLITICAL RISK - Johnson Eyes Govt Funding Stopgap Through Sept
Mar-03 13:36
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- President Donald Trump will make an “investment announcement” at the White House at 13:30 ET 18:30 GMT. Trump has previously appeared alongside representatives of SoftBank, OpenAI, Apple, and DAMAC to announce private investment projects, touting them as wins for his administration’s business-friendly policies.
- Trump said on Truth Social this morning ahead of tomorrow's address to Congress: “TOMORROW NIGHT WILL BE BIG. I WILL TELL IT LIKE IT IS!”
- Speaker Johnson (R-LA) intends to pursue a ‘clean’ Continuing Resolution to extend government funding through September 30.
- US Commerce Secretary Howard Lutnick said yesterday the US intends to impose tariffs on Canada and Mexico on Tuesday, but the situation is “fluid”.
- Cryptocurrencies rallied after Trump announced that Bitcoin, Ether, and several lesser-known tokens will be included in the administration’s strategic crypto reserve.
- Elon Musk reissued his instruction to federal workers to justify their work or face dismissal.
- Agriculture Secretary Brooke Rollins said farmers will receive the first tranche of USD$30 billion authorised by Congress “soon”.
- Europe has moved to replace the US as Ukraine’s primary security guarantor. Further European action will be coordinated at a special EU summit on Thursday. Zelenskyy indicated he is willing to re-engage with Trump.
- Secretary of State Marco Rubio invoked “emergency authorities” to send a USD$4 billion weapons package to Israel amid concerns over the Gaza ceasefire agreement.
- Chart of the Day: "Very few" Americans support cuts to government services.
Full article: US DAILY BRIEF
