MEXICO: Energy Minister Confirms Approval of $4.7B in Projects
Dec-17 14:38
- Speaking at the President’s regular daily press briefing, Energy Minister Luz Elena Gonzalez has indicated that the administration has approved permits for 3320 MW of new generation. The approved projects represent $4.7 billion of investment.
- The minister provides additional details, highlighting that Mexico will open a fresh round of generation approvals in January, and will begin the construction of new energy plants in 2026.
- General Electric are to provide the turbines for the energy projects in Mexico.
- Yesterday, we noted how power sector companies have recently sounded the alarm after the government published a draft proposal that would force them to sell electricity to state-run CFE and potentially open the door for a government takeover of some power plants.
- Separately in today’s press conference President Sheinbaum has called on the UN to act on the US-Venezuela dispute, in order to “prevent any bloodshed”. This follows the overnight news that President Trump has ordered a complete blockade of all sanctioned oil tankers entering and leaving Venezuela.
- Latest headline: "*MEXICO WILLING TO MEDIATE ON VENEZUELA-US IF BOTH PARTS AGREE" (BBG)
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US TSY FUTURES: December'25-March'26 Roll Update
Nov-17 14:28
Latest Tsy quarterly futures roll volumes from December'25 to March'26 outlined below. Modest volumes with percentage complete currently in the single digits. "First Notice" date Friday, November 28. Current roll details:
- TUZ5/TUH6 appr 8,000 from -5.5 to -5.25, -5.5 last; 1% complete
- FVZ5/FVH6 appr 38,900 from -2.5 to -2.25, -2.25 last; 4% complete
- TYZ5/TYH6 appr 97,300 from -1.75 to 2.0, 1.75 last; 5% complete
- UXYZ5/UXYH6 under 200 from 5.25 to 5.5, 5.5 last; 1% complete
- USZ5/USH6 appr 17,600 from 10.5 to 12.5, 11.75 last; 2% complete
- WNZ5/WNH6 appr 2,700 from 10.0 to 10.25, 10.25 last; 1% complete
- Reminder, Dec'25 futures don't expire until next month: 10s, 30s and Ultras on December 19, 2s and 5s on December 31. Meanwhile, Dec'25 Tsy options will expire this Friday, November 21
EQUITIES: US Cash Opening Calls
Nov-17 14:26
SPX: 6,725.8 (-0.1%); DJIA: 47,093 (-0.1%/-54pts); NDX: 24,972.5 (-0.1%).
SONIA OPTIONS: Call Condor buyer
Nov-17 14:20
SFIH6 96.40/96.50/96.60/96.70c condor, bought for 3.25 in 3k.
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