GLOBAL: CBS Suggests Trump Will Talk trade with Sheinbaum/Carney Friday
Dec-04 17:42
- "TRUMP TO TALK TRADE WITH MEXICO AND CANADA IN DC ON FRIDAY -CBS REPORTER" (Reuters)
- Slightly goes against the earlier headlines from Trade Minister Dominic Leblanc who said Carney doesn't plan to talk trade with trump at FIFA event meet.
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PIPELINE: Corporate Bond Update: $1.2B Westlake Corp Launched
Nov-04 17:30
- Date $MM Issuer (Priced *, Launch #)
- 11/04 $1.2B #Westlake Corp $600M 10Y +150, $600M 30Y +175
- 11/04 $1B #Standard Chartered Perp NC10 7.0%
- 11/04 $700M #Hashemite Kingdom of Jordan 7Y 5.95%
- 11/04 $700M Wayfair 7NC3
- 11/04 $500M #Sharjah Islamic Bank 5Y Sukuk +95a
- 11/04 $Benchmark Lao People's Democratic Rep 5Y 11.25%a
- 11/04 $Benchmark Entergy 30.5NC5.25 5.875%, 30.5NC10.25 6.1%
FOREX: USD Index Extends Towards Aug Highs, Notable GBP and NZD Weakness
Nov-04 17:25
- Further upward pressure on the greenback was on show Tuesday, prompting the USD index to establish its position back above the 100 mark, at fresh recovery highs. The index traded to within 4 pips of the August 01 highs. Price action led an impressive lurch lower for spot gold, which briefly extended declines to 1.8% on the day to $3,930/oz. Across the G10, dented risk sentiment weighed significantly on the likes of AUD and NZD, while additional fiscal headwinds added further pressure on GBP.
- GBPUSD extended notably lower, with downside momentum building on a break of 1.31. UK Chancellor Reeves’ pre-budget appearance provided her clearest signal yet that sizeable tax rises are incoming (suggested by the statement of working in the national interest, rather than political popularity), as well as indicating her intention to pave the way with fiscal policy to allow for further BoE rate cuts.
- As we approach the APAC crossover, GBPUSD sits below 1.3041, the Apr 14 low, another bearish technical development for the pair. 1.2971 will act as interim support on the way to 1.2709, a key medium-term level.
- NZDUSD tracks lower for a fifth consecutive session on Tuesday, significantly breaching both trendline support (drawn from the April lows) and the recent cycle low of 0.5683. Coupled with the NZDUSD extension lower, AUDNZD was also in focus Tuesday, after two separate rallies stalled just ahead of key medium-term resistance at 1.1491.
- We have highlighted that a break of this level would place the cross at its highest point since 2013, with plenty of attention on the level/1.1500 ahead of NZ employment data, which highlights the APAC calendar on Wednesday.
- Central bank decisions in Sweden, Poland and Brazil are also due tomorrow, while US ISM services data are also scheduled.
SOFR OPTIONS: BLOCK: Jan'26 SOFR Ratio Call Spread
Nov-04 17:21
- 5,000 SFRF6 96.25/96.75 4x5 call spds, 4.5 net - 4 legs over ref 96.435 at 1206:06ET
