CEEMEA OPEN: Eurobank SA gets priced

• The DXY is steady along the 105.800 handle ahead of today's key US payrolls report after a series of some underwhelming data releases. The NFPs are seen much stronger in November at 220k vs 12k last amid the post hurricanes and Boeing disputes.

• The unemployment rate is tipped unchanged at 4.1% and slightly slower AHE earnings of 0.3% m/m and 3.9% y/y. Disappointment in the data may be due to tepid hiring in cyclical sectors, the pace of monthly job creation may be barely positive.
• Job growth may be well below the level needed to stabilize the unemployment rate which is likely to climb holding the Fed to a small window of rate cuts with inflation still above target.
• USTs trade mixed across the curve on Employment Report Day. The long-end is a bp richer, the short-end a bp cheaper. 10s are steady and the curve a shade flatter.
• Risk assets are mixed, Nikkei, KOSPI, ASX lower, Hang Seng and Shanghai up over 1%. European equity futures are lower. Brent is flat around $72. Several

Fresh in the CEEMEA Pipeline

• No new additions to pipeline.

On the Radar

• Eurobank SA(EUROB), rated Baa2 positive (Moody’s) /BB+ positive (S&P) /BB+ positive (Fitch), has priced its EUR600 Reg S bond at MS+125bps, in from the MS+155bps area ITPs. Orderbooks came in and peaked at EUR3.4bn, with EUR70mn in JLM interest.
  1. Mandated Citi, Deutsche Bank, IMI-Intesa Sanpaolo, Jefferies, Santander (B&D), & Société Générale as Bookrunners.

Priced Deals

What to watch on Friday

• In CEEMEA, Czech retail sales (8GMT) and NBP Minuets (13GMT).
• In the US, NFP data (13:30GMT), & Uni of Michigan sentiment (15GMT).
• Central bankers expected to speak today include the Fed’s Bowman, Goolsbee, Hammack and Daly.

Wider market Sentiment

• USD Index at 105.823
• UST 2yr/10yr at 4.166%/4.180%
• Bund 2yr/10yr at 2.001%/2.091%
• Brent at $71.91/brl

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