Newsquawk Daily Bond Auction Preview - 29th September 2026
Nvidia (NVDA) and AMD (AMD) are lobbying US President Trump's administration to stop lawmakers from curbing exports to China, Politico reports citing sources; asking that lawmakers hold off on the China-related chip export restriction in the defence bill.
Iraqi Oil Ministry announces the start of trial operations for the storage capacity project at the Nasiriyah gas depot, INA reports
Newsquawk Daily Bond Auction Preview - 29th September 2026
Daily US Equity Opening News - AMD buys World Labs for USD 8.2bln; GS discussed CEO succession; JEF falls on weaker asset management; AZN invests USD 2bln in SMMT; BA 737 Max 10 certification delayed by software review; RTX wins USD 20.7bln+ contracts
ECB’s Kazimir says the rate hike was unavoidable, energy prices remain a key factor, and January repricing will be key for him; ECB needs flexibility, it has enough time
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Previews of UK, EU and US government bond auctions including the size of issuance, time of the auction(s), estimates, redemptions, coupons and analyst commentary.
The UK to sell GBP 4.25bln 4.875% 2036 Gilt
Analysis:
- The UK 10-year yield (5.39%) resides towards multi-decade highs, amidst elevated energy prices.
- This offers investors a good opportunity to secure a decent yield, though the environment remains clouded by geopolitical uncertainty and into the Autumn Budget (28th Oct).
- Source reports heading into the Budget remain light, however, PM Burnham has set out plans for a new help-to-buy scheme. This has lifted investor confidence in recent days, given the positive growth indications from such a policy.
- Given the relatively high yield on offer and recent market confidence, the sale should be well received.
Recent History:
- b/c 3.65x, average yield 5.155%, tail 0.1bps
Results due shortly after the 10:00BST bidding deadline
Italy to sell EUR 5.5-6.5bln 3.95% 2032, 4.00% 2036 BTPs and EUR 1.25-1.5bln 1.645% 2036 CCTeu
Analysis:
- Focus for Italy has been on the Budget Deficit, which was recently confirmed at 3.1% of GDP, holding just above the EU's 3% ceiling.
- Italy now looks to the National Escape Clause, which allows EU member states to temporarily exceed the EU budget spending caps. Italy aims to unlock an extra deficit of c. 1.5% to boost military spending. Approval is expected in October and would in theory, weigh on BTPs.
Recent History:
- 3.95% 2032: No recent history
- 4.00% 2036: b.c 1.62x, average yield 4.10%
- 1.645% 2036: b/c 1.62x & yield 3.25%
Results due shortly after the 10:00BST bidding deadline
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