US: Trump Says Witkoff Had "Highly Productive" Meeting With Putin
Aug-06 17:05
Trump on Truth Social: "My Special Envoy, Steve Witkoff, just had a highly productive meeting with Russian President Vladimir Putin. Great progress was made! Afterwards, I updated some of our European Allies. Everyone agrees this War must come to a close, and we will work towards that in the days and weeks to come. Thank you for your attention to this matter!"
US TSYS/SUPPLY: Review 10Y Auction Tailed
Aug-06 17:04
Treasury futures dip slighly (TYU5 -7 at 112-07.5, 4.2375% yld) after the $42B 10Y note auction (91282CNT4) tailed 1bp: drawing 4.255% high yield vs. 4.245% WI; 2.35x bid-to-cover vs. 2.61x prior.
Peripheral stats: indirect take-up slips to 64.23% vs. 65.42% prior; direct bidder take-up at 19.61% from 23.70% prior; primary dealer take-up rises to 16.87% vs. 10.87% prior.
The next 10Y auction (re-open) is tentatively scheduled for September 10.
SWITZERLAND: Swiss President Set To Leave US Without Lower Tariffs - Bloomberg
Aug-06 17:02
Bloomberg reports that Switzerland President Keller-Sutter “is about to leave Washington without announcing any success in lowering the 39% tariff Donald Trump has put on her country, according to a person familiar with the situation.”
“A delegation led by Karin Keller-Sutter presented a new proposal to US officials, the person said, speaking on the condition of anonymity. They don’t expect to clinch a better deal for the country before they depart.”
CHF has given back mild gains on the USD seen earlier today, with USDCHF climbing ~20 pips in 10 minutes. At 0.8072 it’s back to little changed on the day after an earlier low of 0.8049 which didn't trouble Thursday's post-payrolls lows of 0.8027.