CHILE: BCCh Keeps Countercyclical Capital Requirement Unchanged
Nov-12 12:33
- In a statement released last night following its latest financial policy meeting, the board of the BCCh said that it had voted unanimously to keep the countercyclical capital requirement unchanged at 0.5% of risk-weighted assets. It noted that the appetite for risk contrasts with the high uncertainty resulting from trade and geopolitical tensions, and that an abrupt change in global financial conditions remains the main risk to the outlook.
- Following the publication of its H2 Financial Stability Report today, the BCCh says that local financial conditions have improved slightly since the first half of the year. It notes that local companies are better positioned against risks and that local banks have capital and liquidity levels that allow them to maintain solvency under severe tensions. The minutes to this financial policy meeting will be released on Nov 26.
- USDCLP is unchanged in early trade today around 935, keeping the pair around four-month lows. Ahead of this weekend’s first round presidential election vote, the trend condition for the pair remains bearish, with key support at 922.67, the Jul 2 low. On the upside, key short-term resistance is seen at 952.98, the 50-day EMA.
- On the macro front, the calendar is clear today, with attention on tomorrow’s BCCh minutes, which will be monitored for any clues regarding the possibility of a resumption of the easing cycle in December. Yesterday’s BCCh economist survey confirmed expectations for a 25bp rate cut next month, followed by one final reduction to a terminal 4.25% next year.
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GLOBAL POLITICAL RISK: Week Ahead 13-19 October
Oct-13 12:27
Download Full Report Here
(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.
US TSYS: Early SOFR/Treasury Option Roundup
Oct-13 12:26
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
SCHATZ: Swap related Trade
Oct-13 12:25
Schatz Swap related Trade, suggest receiver:
- DUZ5 10k at 107.15.
