MNI China Daily Summary: Wednesday, March 12

MNI BRIEF:Direction Of Inflation Shocks Harder To Call-Lagarde

MNI BRIEF: EU Targets Retaliation Tariffs On US Red States

MNI BRIEF: China To Boost Environmental Equipment Industry

MNI BRIEF: China SME Index Highest Since June 2021

MNI China Press Digest March 12: FDI, Cars, Retail Sales

MNI: JAPAN FEB CORP GOODS PRICE INDEX +4.0% Y/Y; JAN +4.2%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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EU-BOND SYNDICATION: New 10-year mandate

EU-BOND SYNDICATION
BulletMarketsFixed Income Bullets
  • "The EU has mandated BofA Securities, Credit Agricole CIB, DZ BANK, Goldman Sachs Bank Europe SE and Santander as Joint Lead Managers for its upcoming EUR Fixed Rate RegS Bearer new 10-year benchmark due 12th December 2035. There will be a co-lead group comprised of Commerzbank, Danske, Intesa, KBC, MPS, UBS. The transaction will be launched tomorrow, subject to market conditions. "
  • Note that the last 10-year EU-bond launch at syndication (Feb 2024) saw E7bln sold. We see upside risks to this and pencil in E7-10bln (although think it's likely we see the bottom half of this range).
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  • "The EU has mandated BofA Securities, Credit Agricole CIB, DZ BANK, Goldman Sachs Bank Europe SE and Santander as Joint Lead Managers for its upcoming EUR Fixed Rate RegS Bearer new 10-year benchmark due 12th December 2035. There will be a co-lead group comprised of Commerzbank, Danske, Intesa, KBC, MPS, UBS. The transaction will be launched tomorrow, subject to market conditions. "
  • Note that the last 10-year EU-bond launch at syndication (Feb 2024) saw E7bln sold. We see upside risks to this and pencil in E7-10bln (although think it's likely we see the bottom half of this range).