COLOMBIA: Energy Minister Camacho Resigns, January Business Confidence Due
Feb-26 12:23
- Energy Minister Andres Camacho resigned yesterday, after two years in the position, as tensions within the Cabinet remain high following a disorderly televised meeting earlier this month. After that meeting, President Petro asked his Cabinet members to resign. Camacho is said to be planning to run for the Senate.
- Separately, former ambassador and senator Armando Benedetti was confirmed as interior minister yesterday, as expected, where his job will be to promote key reforms, including overhauls of health and labour. Benedetti is perceived as a close ally of President Petro, alongside Laura Sarabia, who Petro recently appointed as foreign minister.
- In the macro calendar, retail and industrial confidence figures for January will be released today. Sentiment edged higher in December, with retail confidence rising to its highest since July 2023. After today, January unemployment figures cross on Friday, when BanRep also holds a non-monetary policy Board meeting.
- Jan. Retail Confidence, prior 20.6
- Jan. Industrial Confidence, prior -0.2
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OUTLOOK: Price Signal Summary - Short-Term Bull Cycle In Gilts Remains Intact
Jan-27 12:20
- In the FI space, the pullback from recent highs in Bund futures appears corrective and a short-term bull cycle is in play for now. The Jan 15 rally highlighted a reversal signal - a bullish engulfing candle. It continues to suggest scope for a corrective phase that is allowing an oversold trend condition to unwind. Sights are on 132.15, the 20-day EMA. A clear breach of the average would strengthen the bullish theme. The bear trigger is at 130.28, the Jan 15 low. Initial support lies at 131.00, the Jan 16 / 24 low.
- The medium-term trend condition in Gilt futures remains bearish. However, recent gains continue to highlight a corrective phase and signal scope for a continuation higher near-term. The focus is on 92.75, the 50.0% retracement of the Dec 3 - Jan 13 bear leg. Initial support is at 91.10, the Jan 20 low.
EQUITIES: 32% of The S&P 500 Set to Report This Week
Jan-27 12:13
Executive Summary:
- 31.6% of the S&P 500's market cap set to report earnings this week
- Highlights this week include Microsoft, Meta Platforms, Tesla Apple and Visa
- Tech names in particular focus given their exposure to AI spending, and Monday's equity price weakness
Full schedule including EPS, revenue expectations and timings here: MNIUSEARNINGS270125.pdf
SONIA: Large Call Fly seller
Jan-27 12:03
0NM5 96.10/96.30/96.50c fly, sold at 2 in 16k.
