AMERICAS OIL: Venezuela’s PDVSA Resumes Light Crude Imports: Reuters

• Stocks kept to a narrow session range by midmorning Wednesday, rebounding after initially selling off along with Treasuries after early headlines reported Trump is considering declaring a state of emergency to enact universal tariffs.
• Rates and stocks bounced after Fed Gov Waller argued for further rate cuts if the economy unfolds as expected, while adding he doesn't see tariffs as being inflationary.
• Currently, the DJIA trades up 35.45 points (0.08%) at 42563.04, S&P E-Minis up 7.75 points (0.13%) at 5961.5, Nasdaq up 24 points (0.1%) at 19511.58.
• Health Care led gainers for the second day running while information Technology sector shares rebounded from early week selling. Boston Scientific +4.49%, GE HealthCare +3.89% and Medtronic gained 3.27%. Meanwhile, software and services shares led tech stocks: Autodesk +2.17%, Synopsys +2.02%, Ansyss +1.69%.
• Conversely, Communication Services and Utility sectors underperformed in the first half, interactive media and entertainment shares weighed on the former: Warner Bros -4.23%, Paramount -3.26%, Match Group -1.79%. Independent power providers weighed on the Utility sector with AES Corp -4.98%, Vistra -4.92%.

New 10-year - record book for a single tranche

• Reoffer: 99.577 to yield 3.733%
• Size: E13bln (MNI expected E10bln)
• Spread set earlier at Feb-35 BTP + 7bp (guidance was + 9bps area)
• Benchmark price ref: 101.84 / 3.663%
• Books in excess of E142bln (ex JLM interest) - record single tranche book
• Maturity: 1 August 2035
• ISIN: IT0005631590

New Green 20-year

• Reoffer: 99.465 to yield 4.181%
• Spread set at 4.45% Sep-43 BTP +5bp (guidance was + 8bps area)
• Benchmark price ref: 104.66  4.131%
• Books in excess of E127bln (ex JLM interest) pre-rec
• Size previously set: E5bln WNG
• Maturity: 30 April 2046
• ISIN: IT0005631608