BRAZIL: Trade Balance Unexpectedly Falls Into Deficit In February
Mar-07 18:01
* "*BRAZIL FEB. TRADE MOVES TO DEFICIT $323.7M; EST. +$1.900B" - BBG * "*BRAZIL FEB. EXPORTS FALL TO...
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EURUSD TECHS: Convincing Break of 20-Day EMA
Feb-05 18:00
- RES 4: 1.0594 Dec 9 ‘24
- RES 3: 1.0533 High Jan 27 and a reversal trigger
- RES 2: 1.0443 50-day EMA
- RES 1: 1.0442 High Feb 5
- PRICE: 1.0424 @ 15:52 GMT Feb 5
- SUP 1: 1.0272 Low Feb 4
- SUP 2: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
- SUP 3: 1.0031 2.00 proj of the Sep 25 - Oct 23 - Nov 5 price swing
- SUP 4: 0.9947 76.4% of the Sep 28 ‘22 - Jul 18 ’23 bull leg
The short-term EUR bullish cycle continued Wednesday, with price action gaining background support from the potential hammer candle formation posted in the reversal on Monday. However, additional reinforcing price evidence is required to signal a turn in the trend. MA studies are in a bear-mode position, highlighting a downtrend. 1.0386 (pierced) to 1.0443, the area between the 20-and 50-days EMAs, marks an important resistance zone. A clear break of it would be a bullish development.
PIPELINE: Corporate Bond Issuance: IBM, Pepsi Multi-Tranche Guidance Update
Feb-05 17:54
- Date $MM Issuer (Priced *, Launch #)
- 02/05 $5.5B #Republic of Poland $2.75B 5Y +75, $2.75B 10Y +105
- 02/05 $3B #UBS $1.5B PerpNC5.5 7%, $1.5B PerpNC10 7.125%
- 02/05 $2.5B #IDA 10Y SOFR+61
- 02/05 $1B #Citadel Finance 5Y +170
- 02/05 $1B *KFW 4% 2026 TAP SOFR+20
- 02/05 $500M #Healthpeak LLC 10Y +102
- 02/05 $Benchmark IBM 3Y +45, 5Y +60, 7Y +70, 10Y +80, 30Y +105
- 02/05 $Benchmark PepsiCo 2Y +22, 3Y +27, 5Y +40, 10Y +60
- 02/05 $Benchmark US Bancorp 6NC5 +80, 11NC10 +110
- 02/05 $Benchmark Citigroup PerpNC5 7.37%a
- 02/05 $Benchmark Pacific Life 5Y +80a
- 02/05 $Benchmark Minera Mexico 7Y +140
- 02/05 $Benchmark Republic of Turkiye 7Y 7.2%
- Expected Thursday:
- 02/06 $Benchmark IFC 4.5Y SOFR+36a
OPTIONS: Busy For Bobls Wednesday
Feb-05 17:52
Wednesday's Europe rates/bond options flow included:
- DUH5 106.80/107.00/107.20c fly, bought for 5.5 in 3k.
- OEH5 118.00/117.50/117.00 put fly paper paid 11.5 on 8K.
- OEH5 117/118/118.50 broken c fly sold at 51 in 1k.
- OEH5 118/118.5/119c fly 1x2.5x1.5, sold at 4 in 10k.
- RXH5 135/136.50cs, bought for 15 in 15k.
- ERM5 97.87/98.0625cs 1x2, bought for 4 in 4.5k.
- ERN5 98.25/98.3125/98.375c fly, bought for 0.75 in 5k.
- ERZ5 98.37/98.50cs vs 97.62/97.50ps, bought the cs for 1.5 in 5k.
- ERZ5 98.25/98.50/98.75c fly vs 97.3125p, bought the cs for 0.75 in 10k
- ERZ5 98.1875/98.4375/98.6875 call fly vs. 97.50/97.25 put spread, paper paid 1.5 on 7.5K, buying the call spread.
