US: Blake Masters Expected To Enter Crucial Arizona Senate Race
Republican Blake Masters is expected to announce a 2024 run for the Arizona Senate seat of Independent, former Democrat, Senator Kyrsten Sinema (I-AZ). Master’s ran in last year’s midterms where he was comfortably beaten by incumbent Senator Mark Kelly (D-AZ) – a divisive result which delivered the first full term Senate seat for Democrat in the state since 1962 and contributing to Democrats retaining overall control of the Senate.
- The race could prove decisive again with the potential for an unpredictable three-way race between Sinema, likely Democrat candidate Rep Ruben Gallego (D-AZ), and a Republican.
- The Wall Street Journal reports: “[Masters'] expected announcement in coming weeks could put him on a collision course with Kari Lake, a popular fellow Republican who is leaning toward announcing her own Senate campaign this fall.”
- Should Lake, a key ally of former President Trump who lost a bid for Governor last year, take the nomination, Republicans may be concerned that Trump’s influence may produce a similar groundswell of support for Democrats which delivered a strong midterm performance for Democrats statewide.
- Recent polls suggest that Gallego has the edge over three potential Republican candidates.
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PIPELINE: Daimler Truck, Wells Fargo, Columbia Pipelines Updated Guidance
- Date $MM Issuer (Priced *, Launch #)
- 08/02 $Benchmark Daimler Truck 2Y +73, 5Y +118, 10Y +150
- 08/02 $Benchmark Wells Fargo 2Y +85a, 2Y SOFR, 3Y +100a, 3Y SOFR
- 08/02 $Benchmark Columbia Pipelines HoldCo 3Y +150, 5Y +180
- 08/02 $Benchmark Columbia Pipelines OpCo7Y +175, 10Y +195, 20Y +212.5, 30Y +235, 40Y +252
EURUSD TECHS: Takes Out Key Trendline Support
- RES 4: 1.1313 High Feb 24 2022
- RES 3: 1.1276 High Jul 18 and the bull trigger
- RES 2: 1.1150/1229 High Jul 27 / 20
- RES 1: 1.1040 20-day EMA
- PRICE: 1.0928 @ 15:37 BST Aug 2
- SUP 1: 1.0918 Low Aug 02
- SUP 2: 1.0867 Low Jul 7
- SUP 3: 1.0834 Low Jul 6 and a key support
- SUP 4: 1.0804 Low Jun 15
The pullback in EUR/USD looks like a clean break of trendline support drawn off the May 31 low as well as the 50-day EMA and marks a bearish development. This opens the 1.0867 Jul 7 low initially ahead of the more notable key support of the Jul 6 low at 1.0834. Downside momentum is picking up across a series of measures - the downleg from the Jul18 high has pierced the 1.0% 10-dma on several occasions, signalling the persistent nature of the current weakness. First key resistance remains 1.1150, the Jul 27 high.
OPTIONS: Largely Rates Downside Wednesday, With Some Near-Term Bund Upside
Wednesday's Europe rates / bond options flow included:
- ERZ3 95.75/95.375 ps, bought for 2.75 in 8k
- ERZ3 96.00/95.875/95.75 p fly, bought for 1.5 in 10k.
- ERZ3 95.625/95.375ps 1x2, bought the 1 for 0.75 in 10k
- RXU3 135.5/137.00/138.5c fly, bought for 19 in 2k
- RXU3 134/136cs 1x1.5 sold in 5k (closing) vs RXU3 133.50/135.50/137.50c fly bought in 5k (new posie), paid 3.5 for the fly
- Bund week 1, expiry Friday: 133.00/133.50cs , bought for 14 in 2k. Looking for a NFP miss
