STIR: A Small Dovish Reaction On Trump Thinking Powell Might Be Ready To Cut
Jul-25 13:15
- There’s a small downtick in Sep OIS on latest Trump-Powell headlines, although only worth 0.5-1bp with a cumulative 17-17.5bp.
- Still, that’s from 15.5-16bp prior to durable goods orders less than an hour ago.
- No notable reaction in July Fed OIS pricing from Trump-Fed headlines, with the committee-nature of the FOMC and existing mostly patient Fedspeak prior to the media blackout ahead of next week’s FOMC decision. Only two members on the committee had explicitly voiced willingness for a July cut.
- "TRUMP ON FED'S POWELL: GOT THE IMPRESSION YESTERDAY FROM POWELL THAT HE MIGHT BE READY TO LOWER RATES" RTRS
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MNI EXCLUSIVE: European Officials Look at the Impact of Spain's NATO Policies
Jun-25 13:07
- European officials look at the impact of Spain's NATO policies on its standing within the EU -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
BUNDS: Extending lower on heavy Volumes
Jun-25 13:05
- Counterparties are finding each others in Bund, this is the best 5 minutes Volume seen for the day, around 30k trades, and the Bund only moves 1 tick at a time.
- The 2.60% 10yr Level equates to 130.07, this is the main support to watch.
US: Trump's NATO Press Conference Underway Shortly
Jun-25 12:59
US President Donald Trump is shortly due to hold a press conference to wrap up today's truncated NATO summit in The Hague, Netherlands. LIVESTREAM
- At the conclusion of the presser, Trump will depart the Netherlands for Washington D.C., where his focus will return to the GOP's 'One Big Beautiful' reconciliation bill. Trump is expected to arrive at the White House at 18:50 ET 23:50 BST.
- NATO Secretary General Mark Rutte said at a separate press conference a few moments ago that Trump "deserves all the praise" for pushing NATO members to agree to hike defence spending to 5% of GDP.
- The presser is likely to be dominated by questions on the Iran-Israel ceasefire and recent press reports of an intelligence leak suggesting that US strikes on Iranian nuclear facilities may have been less effective than Trump officials have claimed.
