MEXICO: Current Account Surplus Widens More Than Expected In Q4
Feb-23 15:12
- Mexico 4Q Current Account $11.7b Surplus; Est. $5.0b Surplus (BBG)
- The central bank reported the following data on its website:
- Exports of goods $151.5b vs $147.8b a year ago
- Imports of goods $146.9b vs $149.0b a year ago
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US TSY FUTURES: BLOCK, Mar'24 2Y Sale
Jan-24 15:18
- -7,500 TUH4 102-20.38 (+.75), sell through 102-20.5 post time bid at 0958:08ET, DV01 $286,500. Contract trades 102-20.25 last
EURIBOR OPTIONS: Downside put ladder
Jan-24 15:17
ERM4 96.50/96.37/96.25p ladder, bought for 1.5 and 1.75 in 10k
CANADA: GoCs Quickly Reverse Initial BoC Sell-Off, USDCAD Climbs
Jan-24 15:15
- 2Y GoC yields initially climbed 4bps but have fully reversed the move vs a 4bp climbg for Tsys after strong flash US PMIs.
- USDCAD has lifted 50 pips to 1.3478, pushing back closer to yesterday’s high of 1.3492. Resistance is seen at 1.3542 (Jan 17 high).
- The decision statement removed the explicit hiking bias but the separate presser opening statement (now released at the same time rather than with the presser) included a soft touch bias by not ruling out future increases.
- It’s concerned about underlying inflation persistence but the 2024 inflation forecast was lowered from 3.0% to 2.8% (but a smaller move on a Q4/Q4 basis from 2.5% to 2.4%).
