OIL: BFOET Loadings to Edge Up to 542k b/d in October

• Date $MM Issuer (Priced *, Launch #)
• 07/29 $2B NextEra Energy 2Y +95a
• 07/29 $Benchmark Sherwin Williams 3% +75a, 5Y +90a, 10Y +110a
• $19.84B Priced Monday, largely tied to $12B Mexico 5Y issuance

• Treasury futures holding near early session highs, little react to Advance Goods Trade Balance, import decline and less negative goods export. Wholesale inventories slightly higher than expected, retail inventories in-line.
• Tsy Sep'25 10Y contract trades +7.5 at 111-00 vs. 111-00.5 high; initial technical resistance above at 111-14.5 (High Jul 22). Key support remains intact at 110-08+, the Jul 14 and 16 low. A move through this support would reinstate a bearish theme.
• Curves flatter: 2s10s -0.168 at 47.617, 5s30s -1.984 at 96.721.
• Cross asset: Bbg US$ index near recent high: BBDXY +3.65 at 1211.75; stocks mildly higher (SPX eminis +13.5 at 6436.25); gold firmer +5.95 at 3320.56.

SFIU5 96.15/96.25/96.30c fly, bought for 1 in 8.88k.