GERMANY: Taggespiegel-Merz To Be Elected Chancellor 6 May
Germany's Taggespiegel reports : https://www.tagesspiegel.de/politik/start-fur-schwarz-rot-merz-soll...
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FED: US TSY 17W AUCTION: NON-COMP BIDS $537 MLN FROM $60.000 BLN TOTAL
- US TSY 17W AUCTION: NON-COMP BIDS $537 MLN FROM $60.000 BLN TOTAL
EGBS: GGBs Widen Further As Dual-Tranche Syndication Catches Many Off Guard
10- & 30-year GGBs ~2bp wider vs. Bunds since the syndication announcement flagged earlier.
- The syndication announcement seems to have come as a bit of a surprise to the market and it wasn’t one that we had on our radar.
- We will update on our thoughts surrounding the likely size of the dual-tranche syndication (which is complimented by buybacks) in due course.
EQUITIES: Program seller helps Indices to session low
Small Program seller with 997 names, combined with 2k seller in the Nasdaq futures (NQH5) is pushing Equities through their lows on both sides of the Atlantic.
The range in the Emini has seen a 1.84% swing range so far today, but compared to what has been witnessed of late, this is still a more contained move.
We have not seen any new driver, but the uncertainty on the tariffs front going forward are keeping Investors on edge or on the sidelines.
The Emini printed a 5534.00 low Yesterday, but main initial support is at 5499.25, the September low.
