CHILE: BCCh Releases Minutes Of June 17 MPC Meeting
Jul-03 12:33
- The BCCh Minutes of the June 17 meeting are here.
- "“The Board also agreed that, in a macroeconomic scenario that generally changed little with respect to the latest reports and where upward risks for inflation were moderating, it followed that the monetary policy rate (MPR) should gradually approach its neutral values. Therefore, two options were considered for this Meeting: (i) keep the MPR at 5%; (ii) lower it by 25 basis points, to 4.75%.”
- “All the Board members agreed that, in an uncertain environment, holding the rate was the wisest decision, provided that it was clearly stated that, if the central scenario of the June IPoM materialized, in the coming quarters the MPR would be approaching its neutral value range.”
- “They agreed that, in a materialized June IPoM scenario, the moment to start nudging the MPR towards the neutral value range depended mostly on tactical and communicational factors.”
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US: MNI POLITICAL RISK - Senate Looks To Unveil Megabill This Week
Jun-03 12:20
Download Full Report Here
- President Donald Trump has no public events scheduled for a second successive day. Trump is expected to continue outreach to wavering Republican Senators on the 'One Big Beautiful Bill'.
- SEC Commissioner Paul Atkins will testify today to the Senate on Trump’s FY26 budget request.
- The Trump administration has reportedly circulated a letter to trading partners seeking their best offer by Wednesday.
- Commerce Secretary Howard Lutnick is “very optimistic” about striking a trade deal with India in the coming weeks.
- USTR Jamieson Greer is expected to meet the European Trade Commissioner tomorrow - the same day as Trump’s planned doubling of steel and aluminium tariffs.
- The OECD cut its global growth forecast, citing trade uncertainty.
- Senate Majority Leader John Thune (R-SD) hopes to release his text of the GOP megabill as soon as this week. Senate committees could start rolling out their portions of the bill today.
- The White House is expected to send Congress its first package of rescissions today.
- The so-called ‘TACO Trade’ could be instructive for determining Trump’s foreign policy.
- Pressure has increased on Trump to authorise Russia sanctions after a second round of Ukraine talks saw little progress towards a ceasefire.
- A new US-Iran nuclear accord looks in doubt after Trump appeared to nix a compromise on Tehran’s enrichment programme.
- Poll of the Day: Voters trust Trump but have concerns about current economic conditions.
Full Article: US DAILY BRIEF
US TSYS: Early SOFR/Treasury Option Roundup
Jun-03 12:17
Trading desks reported modest overnight volumes in SOFR & Treasury options, mixed trade leaning slightly towards SOFR puts. Underlying futures firmer, projected rate cut pricing holds steady gaining slightly in longer dates vs. late Monday levels (*) as follows: Jun'25 steady at -1.2bp, Jul'25 at -6.3bp (-6.3bp), Sep'25 at -22.2bp (-20.8bp), Oct'25 at -35.8bp (-34.8bp), Dec'25 at -52.6bp (-51.0bp).
- SOFR Options:
- 1,800 2QM5 96.37/96.50/96.62 put flys
- +1,500 SFRZ5 96.50/96.6875/96.75 call fly, 3.0 vs 96.22/0.05%
- +1,500 0QQ5 95.75/96.00 put spd, 1.5
- -1,500 SFRZ5 95.62/95.68 put spd, 0.5 vs 96.245/0.05%
- Block, +5,000 0QM5 96.12/96.37 put spds, 2.0 ref 96.595
- 2,000 0QM5 96.62/96.75/96.87 call fly, 2.0
- +10,000 SFRU5 95.625 puts, 1.0
- Treasury Options:
- +2,500 wk1 Wed TY 110.25 puts, 2
- 1,150 FVN5 107 puts, 5.5 ref 108-06.25
- +1,000 wk1 Wed TY 110.5/110.75 2x1 put spd, 1.0 vs 110-26/0.08%
- +1,000 wk1 TU/wk1 Wed TU 103.87 call spds, 2.5
- +1,000 wk1 TU/wk1 Wed TU 103.75 call spds, 3.5
MNI EXCLUSIVE: Former Trump Trade Negotiator Speaks to MNI on Tariffs
Jun-03 12:16
- Former Trump trade negotiator Everett Eissenstat discusses the outlook for tariffs -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
