ISRAEL: Axios-Relations Strained w/US Over Direct Hamas Communication

Mar-07 11:23

Axios reports that relations between the Netanyahu gov't and the Trump administration have been severely strained by the news that US officials have engaged in direct conversations with Hamas regarding the potential release of US hostages held in Gaza. The article claims that Israel's disapproval of the US-Hamas talks "erupted in a contentious call Tuesday between Prime Minister Benjamin Netanyahu's right-hand man [Minister of Strategic Affairs Ron Dermer] and the U.S. official leading the talks [US hostage envoy Adam Boehler]," according to its sources. The Times of Israel reported on 6 March that the PM's office was also unaware of talks involving the US, Hamas, Egypt and Qatar regarding the phase two ceasefire agreement in Gaza. 

  • The report claims that the Biden administration was lobbied by hostage families to seek a separate release deal, but this was not pursued as the Biden White House did not expect such talks to result in progress, and did not want to be seen 'legitimising' Hamas.
  • US Middle East envoy Steve Witkoff is expected to travel to the region early next week, with the 'top priority' of securing the release of 21-year-old US hostage Edan Alexander and the bodies of four deceased US hostages.
  • On 5 March, President Donald Trump issued a fiery message on Truth Social, calling for Hamas to "RELEASE THE HOSTAGES NOW, OR THERE WILL BE HELL TO PAY LATER!".

Historical bullets

STIR: Mix Of Long Setting & Short Cover In Most SOFR Futures On Tuesday

Feb-05 11:13

OI data points to a mix of net long setting and short cover in most SOFR futures on Tuesday.

  • Net OI swings were relatively limited, once again pointing to a lack of any real conviction, with traders wary of tariff headlines and related risk of two-way price swings.

 

04-Feb-25

03-Feb-25

Daily OI Change

 

Daily OI Change In Packs

SFRZ4

1,073,967

1,082,060

-8,093

Whites

-3,188

SFRH5

1,227,372

1,215,014

+12,358

Reds

-13,237

SFRM5

1,081,899

1,093,284

-11,385

Greens

+17,150

SFRU5

779,484

775,552

+3,932

Blues

+4,574

SFRZ5

944,129

942,862

+1,267

 

 

SFRH6

672,754

671,349

+1,405

 

 

SFRM6

625,125

640,630

-15,505

 

 

SFRU6

590,125

590,529

-404

 

 

SFRZ6

677,002

666,455

+10,547

 

 

SFRH7

476,379

472,299

+4,080

 

 

SFRM7

411,859

406,431

+5,428

 

 

SFRU7

284,237

287,142

-2,905

 

 

SFRZ7

270,188

267,479

+2,709

 

 

SFRH8

216,082

216,838

-756

 

 

SFRM8

181,891

179,036

+2,855

 

 

SFRU8

119,874

120,108

-234

 

 

EU-BILL AUCTION PREVIEW: 3/6/12-Month EU-Bills

Feb-05 11:07
Type3-month EU-bill6-month   EU-bill12-month EU-bill
MaturityMay 9, 2025Aug 8, 2025Feb 6, 2026
AmountE1.35blnE1.371blnE1.472bln
TargetE1.5blnE1.5blnE1.5bln
PreviousE1.24blnE1.35blnE950mln
Avg yield2.487%2.350%2.190%
Previous2.615%2.505%2.345%
Bid-to-cover1.96x2.32x2.14x
Previous1.45x1.73x2.94x
Previous dateJan 22, 2025Jan 22, 2025Jan 22, 2025

EQUITIES: EU Bank put spread

Feb-05 11:04

SX7E (21st Mar) 150/135ps 1x1.5, bought for 0.65 in 6k.

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