US sells USD 30bln of 2-year FRN; high discount margin 0.099%
The auction results for the USD 30 billion 2-year FRN indicate weaker demand, as the bid-to-cover ratio has fallen significantly, suggesting less appetite from investors compared to the previous auction.
De Longhi (DLG IM) prelim FY revenue EUR 3.80bln (exp. 3.80bln)
US sells 17-week bills at a high rate of 3.590%, B/C 2.92x
US sells USD 30bln of 2-year FRN; high discount margin 0.099%
European Closes: Euro Stoxx 50 -1.03% at 5,933, Dax 40 -0.20% at 24,844, FTSE 100 -0.52% at 10,154, CAC 40 -1.06% at 8,067, FTSE MIB -0.66% at 45,139, IBEX 35 -1.10% at 17,608, PSI +0.11% at 8,663, SMI -1.53% at 13,012, AEX -0.45% at 997
US President Trump praises Hassett and says he doesn't want to lose him
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- High discount margin 0.099% (prev. 0.139%).
- Bid-to-cover: 3.16x (prev. 3.75x).
- Dealers: 34.3% (prev. 30.0%).
- Directs: 0.0% (prev. 0.7%).
- Indirects: 65.7% (prev. 69.3%).
The high discount margin has also decreased, which could imply a more cautious rate outlook. Overall, these results may suggest a shift in market sentiment regarding short-term debt, potentially influencing interest rates and risk perception going forward.
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