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- (FR)
France Debt Agency (AFT) opened its book to sell Jun 2044 green bond via syndicate; guidance seen +20bps to oats
Looking Ahead
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06:00 (DE) Germany Mar ZEW Current Situation Survey: -62.0e v -67.2 prior; Expectations Survey: 74.0e v 69.6 prior
- 06:00 (EU) Euro Zone Mar ZEW Expectations Survey: No est v 69.6 prior
- 06:00 (EU) Daily Euribor Fixing
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- 06:10 (EU) Daily ECB Liquidity Stats
- 06:15 (CH) Switzerland to sell 3-month Bills
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- 06:30 (HU) Hungary Debt Agency (AKK) to sell 3-Month Bills
- 06:30 (EU) ECB allotment in 7-Day Main Refinancing Tender (MRO)
- 07:00 (BR) Brazil Mar FGV Inflation IGP-10 M/M: 2.8%e v 3.0% prior
- (NL)
Netherlands Debt Agency (DSTA) sold €1.7B vs. €1.5-2.5B in 0.50% Jan 2040 DSL green bond; Avg Yield: % v -0.019% prior (Jun 23rd 2020)
- (ZA) South Africa sold total ZAR6.6B vs. ZAR6.6B target in 2032, 2037 and 2044 bonds
- (UK)
DMO sold £2.0B in 0.625% Oct 2050 Gilts; Avg Yield: 1.302% v 0.837% prior; bid-to-cover: 2.20x v 2.38x prior; Tail: 0.3bps v 0.3bps prior
- (IT)
Italy Debt Agency (Tesoro) sold €2.5B vs. €2.0-2.5B indicated range in 0.00% Sept 2022 CTZ; Avg Yield: -0.308% v -0.277% prior; bid-to-cover: 1.66x v 1.46x prior
Looking Ahead
- 05:30 (HU) Hungary Debt Agency (AKK) to sell 3-Month Bills
- 05:30 (EU) ECB allotment in 7-Day Main Refinancing Tender (MRO)
Following
2/2/2021 10:36:29 AM GMT
EU Mid-Market Update: Various EU Q4 GDP data showing lockdowns have less impact compared to last spring; issuance front remains heavy.
Notes/Observations
- UK Jan Nationwide House Prices registered its 1st monthly decline since June
- Various EU GDP data (Euro Zone, Italy and Portugal) showed less economic fallout from the coronavirus pandemic from last spring’s lockdown
- Issuance remains steady as countries and companies race to take advantage of low borrowing costs
- Companies expected to report during the NY morning include ConocoPhillips, Emerson Electric, Eaton Corp, W.W. Grainger, HCA, Harley Davidson, Manpower, McKesson, Marathon Petroleum, Pitney Bowes, Pfizer, Sirius XM, Sysco Corp, UPS, Exxon
- (EU)
European Union opened book to sell EUR-denominated 7-year and 30-year SURE bonds via syndicate; To sell 7-year bonds; guidance seen -13bps to mid-swaps; To sell Nov 2050 bonds; guidance seen +7bps to mid-swaps
- (SA)
- (NL)
Netherlands Debt Agency (DSTA) sold €2.71B vs. €2.0-3.0B indicated range in 0.25% July 2025 DSL Bonds; Avg Yield: -0.721% v +0.642% prior (Nov 24th 2020)
- (UK)
DMO sold £2.5B in 0.625% July 2035 Gilts; Avg Yield: 0.614% v 0.512% prior; bid-to-cover: 2.66x v 2.95x prior; Tails: 0.2bps v 0.0bps prior
- (IT)
Italy Debt Agency (Tesoro) sold €3.0B vs. €2.5-3.0B indicated range in Sept 2022 CTZ Bonds; Avg Yield: -0.277% v -0.369% prior; bid-to-cover: 1.46x v 1.77x prior