PERU: Congress Reaches Threshold For Vote On Censure Against President Jeri
Feb-11 17:37
* "*PERU CONGRESS MEETS THRESHOLD FOR JERI CENSURE VOTE: REPUBLICA" - BBG * "The 78 signatures req...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
TARIFFS: US And Taiwan On Verge Of Tariff & Semiconductor Agreement - NYT
Jan-12 17:27
The New York Times reports that, “The Trump administration is completing a trade deal with Taiwan that would reduce tariffs on the island’s exports and commit its largest chipmaker, Taiwan Semiconductor Manufacturing Corporation, to invest significantly more in the United States, according to three people familiar with the matter.”
- The report notes, “The agreement, which has been under negotiation for months, is being legally scrubbed and could be announced this month. The deal would reduce the US tariff rate, to 15 percent, for goods from the island, the people said. That rate is in line with imports from Japan and South Korea, Asian allies that struck deals last year.”
- According to the Times, as part of the deal, TSMC would commit to building an additional five semiconductor fabs in Arizona, doubling the company’s proposed operations in the state. The first of the plants came online in 2020, with the second scheduled to open in 2028 and four more planned, prior to the trade agreement.
US TSYS/SUPPLY: Preview 10Y Auction Re-Open
Jan-12 17:26
Treasury futures are drifting off early session lows with the TYH6 currently -0.5 at 112-06.5 (10Y yield +.0099 at 4.1752%) ahead of the $39B 10Y Note auction re-open (91282CPJ4) at the top of the hour. WI is currently 4.177%, .2bp cheap to last month's sale:
- December auction recap: Treasury futures remained mixed, 2s-10s modestly weaker (TYH6 -1.5 at 112-06.5, yld 4.1683%) after the $39B 10Y note auction re-open (91282CPJ4) came out on-the-screws: drawing 4.175% high yield vs. 4.175% WI; 2.55x bid-to-cover vs. 2.43x prior.
- Peripheral stats: indirect take-up rose to 70.24% vs. 67.00% prior; direct bidder take-up receded to 20.96% from 22.55% prior; while primary dealer take-up slipped to 8.81% vs. 10.45% prior.
SECURITY: Trump To Meet Machado At White House On Thursday - CNN
Jan-12 17:12
Alayna Treene at CNN reports on X, "Venezuelan opposition leader and Nobel Peace Prize winner María Corina Machado is scheduled to meet with President Trump at the White House on Thursday, a senior WH official tells me."
- The meeting could be a first public show of support for the Venezuelan opposition, with the Trump administration opting to negotiate directly with continuity interim President Delcy Rodríguez. So far, the Trump administration has declined to outline a timeline for new elections in the country.
- Shortly after the operation to remove former President Nicolas Maduro, Trump said, “I think it would be very tough for her to be the leader. She doesn’t have the support within or the respect within the country.”
- Bloomberg noted on Jan 9, "Machado’s visit to the US along with the release of some political prisoners earlier Thursday could lift opposition morale after Trump’s mixed messaging."
- Oil executives emerged from a Friday meeting with Trump sceptical of the president’s plan to raise USD$100 billion to restore Venezuela’s degraded oil infrastructure. Darren Woods, CEO of Exxon, said, “We’ve had our assets seized there twice, and so you can imagine to re-enter a third time would require some pretty significant changes… Today it’s uninvestable.”
- Reuters reported earlier that Treasury Secretary Scott Bessent said additional US sanctions on Venezuela could be lifted as soon as next week to facilitate oil sales, and that he will meet next week with the heads of the IMF and World Bank on their re-engagement with Venezuela.
