EU CREDIT SUPPLY: Amcor: Final Terms

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• President Donald Trump arrived in Israel this morning for a whistlestop one-day regional tour to tout the first phase of the US-brokered Gaza peace deal.
• Day 13 of the US government shutdown, and the impasse continues without signs of an offramp. The White House had begun laying off more than 4,000 federal workers, with Treasury and HHS accounting for more than half of the layoffs.
• Trump dialled down tensions with China after roiling markets with a statement threatening a new 100% tariff on Chinese goods and to cancel a planned meeting with Chinese President Xi Jinping.
• Treasury Secretary Scott Bessent said he is “confident this can be de-escalated,” as lines of communication have been opened, noting that “tariffs don't have to happen”.
• An Indian delegation will travel to the US this week for talks aimed at striking a trade deal.
• Trump's deal with AstraZeneca signals the White House has paused plans for pharma tariffs.
• Secretary of State Marco Rubio reassured Republicans that AUKUS will survive a Pentagon review.
• National Guard troops are awaiting deployment to Chicago and Portland pending federal appeals court rulings.
• Trump is weighing up using Tomahawks as leverage with Russian President Vladimir Putin.
• Defense Secretary Pete Hegseth is setting up a new counter-narcotics Joint Task Force. Trump has a new plan to pressure Venezuelan President Nicolas Maduro.
• Poll of the Day: The shutdown might hurt Republicans more than Democrats

Full Article: US DAILY BRIEF

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(MNI) London – All timings are subject to change. 

Monday 13 October: 

• Middle East: A ‘peace summit’ takes place in Sharm el-Sheikh, Egypt, and follows the release of all remaining living hostages held by Hamas. The high-profile summit will see US President Donald Trump, Egyptian President Abdel Fattah al-Sisi, Qatari Emir Sheikh Tamim bin Hamad Al Thani, Palestinian Authority President Mahmoud Abbas, UK PM Sir Keir Starmer, French President Emmanuel Macron, Turkish President Recep Tayyip Erdogan, German Chancellor Friedrich Merz, Indonesian President Prabowo Subianto, and Saudi Foreign Minister Prince Faisal bin Farhan. Early on 13 October, it was reported that Israeli PM Benjamin Netanyahu would attend at short notice, but this proved to be unfounded, with Netanyahu’s office citing the proximity of a Jewish holiday.

SOFR and Treasury option flow rather light, cash closed due to Columbus Day holiday. Underlying futures steady (TYZ5) to mixed, short end mildly firmer while projected rate cut pricing rises vs. late Friday levels (*): Oct'25 at -24.1bp (-24.2bp), Dec'25 at -47.8bp (-47.9bp), Jan'26 at -59.8bp (-60.2bp), Mar'26 at -71.5bp (-72.3bp).

• SOFR Options
  • 1,500 SFRH6 97.00/97.50/97.75 broken call trees
  • over 5,000 SFRZ5 97.00 calls outright ref 96.36 to -.635
  • 1,800 0QZ5 97.18 calls, 9.0 ref 97.00
  • over 7,875 SFRZ5 96.50/97.00 1x2 call spds ref 96.36
  • 2,000 SFRZ5 96.12/96.25 put spds ref 96.355
  • 2,100 SFRZ5 96.25/96.31/96.50/96.56 call condors ref 96.355
  • 1,500 SFRZ5 96.31/96.50 call spds ref 96.35
• Treasury Options:
  • 1,100 TYX5 112/112.5/113/113.5 put condors ref 113-01.5
  • 1,500 TYX5 114/115 call spds ref 113-02
  • over 4,500 TYX5 113.5 calls, 16 ref 113-01.5
  • 1,000 USX5 117/117.5/118 call flys ref 117-24
  • 2,600 TYX5 112.5 puts, 13 ref 112-31.5
  • 1,600 TYX5 109.5 puts, 1 ref 112-31.5
  • over 8,300 TYZ5 112.5 puts, ref 113-00