3:00 Wednesday vs 3:00 Tuesday
2yr 100-01 vs 99-26; 4.231% vs 4.273%
5yr 100-03+ vs 100-02; 4.349% vs 4.359%
10yr 98-01+ vs 98-18+; 5.152% vs 5.111%
30yr 97-25 vs 98-17; 5.141% vs 5.093%
2/10 38.692 bps vs 32.747 bps
5/30 79.303 bps vs 73.180 bps
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Treasury
Huaneng Lancang River Hydropower Issues 3 Billion Yuan Bonds in Two Tranches
Huaneng Lancang River Hydropower (SHA:600025) completed the issuance of 3 billion yuan of debts in two tranches, according to a Wednesday disclosure to the Shanghai bourse.The hydropower company issued 1 billion yuan under its eighth tranche of ultra-short-term bonds, with an interest rate of 1.46% and a term of 268 days.Lancang River Hydropower also issued 2 billion yuan under its 10th tranche of green medium-term bond issuance with an interest rate of 1.97% and a term of at least five years.The outstanding ultra-short-term bond balance is 9.4 billion yuan, while the medium-term bond balance is 19 billion yuan.Industrial and Commercial Bank of China (HKG:1398, SHA:601398) led the ultra-short-term issuance while Bank of China (HKG:3988, SHA:601988) co-led the issuance.Bank of China also led the green medium-term bonds while Agricultural Bank of China (SHA:601288, HKG:1288) co-led the issuance.
SHA:600025
Treasury
TSX Closer: Index Rises as Tech Gains Offset Commodity Weakness Ahead of Fed Decision
The S&P/TSX Composite Index edged higher on Tuesday as gains in technology stocks outweighed weakness in base metals and oil prices, while investors assessed corporate earnings reports and awaited the US Federal Reserve's interest-rate decision.The index closed up 181.56 points, or 0.5%, at 35,749.70, with mixed sectors. Information technology led gainers, up 5.1%, while base metals led decliners, down 2%.In commodities, gold fell to a one-week low even as the US dollar index fell slightly, while investors awaited the Federal Reserve's interest-rate decision and comments from Chair Kevin Warsh on the policy outlook on Wednesday.The precious metal for August delivery was last seen down $52.1, or 1.3%, to $4,024.90 per ounce. The price of the precious metal has fallen about 24% since the US-Iran war that broke on Feb. 28.Meanwhile, West Texas Intermediate (WTI) crude oil closed lower on Tuesday, as investors await a solution to the Middle East conflict. September WTI crude oil contract closed down $3.35, or 4.1%, and settled at $79.26 per barrel, while September Brent oil last seen down $4.46, or 5.1%, at $83.90.In corporate news, Transat A.T. (TRZ.TO) on Tuesday said it is receiving federal government support of up to C$150 million, with C$125 million disbursed today, to mitigate the impact of higher aviation fuel prices, a statement said.In the Canadian economy, CIBC noted that activity is expected to have grown 0.1% month over month in May, likely supported by strength in retail trade and real estate activity while wholesale activity declined, said CIBC. Statistics Canada will release May and preliminary June GDP data on Friday.The bank anticipated that growth will moderate in the second half of the year as the risk of new US tariffs weighs on activity. This outlook should allow the Bank of Canada to remain on hold despite the recent increase in global oil prices, said CIBC.Additionally, Canada's broader growth outlook remains intact despite last week's proposed 50% US tariffs, with the measures affecting only a small portion of bilateral trade, according to RBC Economics.However, Quebec's economy is expected to remain under pressure as trade tensions weigh on activity, with uncertainty over the US-Mexico-Canada Agreement remaining elevated, National Bank of Canada said in a Tuesday note.In fixed income, attention turned to the government's near-term funding plans.Canada is increasing treasury bill sales as the government prepares to meet upcoming bond maturities in August and September. Tuesday's T-bill auction size is C$28 billion, up C$2 billion from two weeks ago, National Bank of Canada said in a note.
S&P/TSX CompositeS&P/TSX Composite$CAD$CXY
Treasury
US Treasury Closing Levels
3:00 Tuesday vs 3:00 Monday2yr 99-26 vs 99-21; 4.273% vs 4.318%5yr 100-02 vs 98-25+; 4.359% vs 4.397%10yr 98-18+ vs 98-04+; 5.111% vs 5.149%30yr 98-17 vs 98-02+; 5.093% vs 5.125%2/10 32.747 bps vs 32.045 bps5/30 73.180 bps vs 72.620 bps