TURKEY: Erdogan Asks Putin to Take Back S-400s, Bloomberg Reports
- "ERDOGAN ASKS PUTIN TO TAKE BACK S-400S IN BID TO BOOST US TIES" - BBG
Bloomberg write that Erdogan raised the issue with his Russian counterpart Vladimir Putin during a meeting in Turkmenistan last week, following similar discussions that had taken place earlier between the two countries’ officials
The issue of the S-400 fighter jets has been a key issue between US-Turkey relations. Earlier this month, the US ambassador to Ankara said Turkey “must no longer operate nor possess” the Russian-made S-400 air defense system in order to return to the F-35 fighter jet program.
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GILTS: Holding Off Lows Ahead Of Key Risk Events
Gilts hold off lows registered over the past couple of sessions, although yields still print 5-13bp higher across the curve when compared to Thursday’s closing levels.
- Curve now sees a parallel ~3bp shift lower yields, early steepening unwound.
- Futures last +16 at 92.31 vs. highs of 92.43.
- Initial support of note located at 91.82, while bulls ultimately need to close Friday’s opening gap lower (~93.35) to start turning the technical tide back in their favour.
- As we noted previously, while long end swap spreads indicate increased fiscal risk premium being priced in after Chancellor Reeves’ apparent u-turn when it comes to income tax rate hikes, those spreads are still well off year-to-date lows.
- AXA Investment Managers halved exposure to gilts on Friday, according to a senior fund manager that spoke to RTRS.
- Elsewhere, OI data pointed to net short setting dominating in futures on Friday.
- SONIA futures flat to +3.0.
- BoE-dated OIS little changed to 2bp more dovish on the day, showing 18.5bp of easing for December, 26.5bp through February and 35bp through March.
- CPI data headlines the UK calendar this week (Wednesday), ahead of next week’s Budget (which will also be delivered on a Wednesday).
- Expect our full CPI preview to be published in due course.
MNI EXCLUSIVE: Poland's Deputy Climate Minister speaks on ETS2
Poland's Deputy Climate Minister Krzysztof Bolesta speaks about the economic cost of the EU's environmental targets.- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
MNI: US AUG CONSTRUCT SPENDING +0.2%
- MNI: US AUG CONSTRUCT SPENDING +0.2%
- US AUG PRIVATE CONSTRUCT SPENDING +0.3%
- US AUG PUBLIC CONSTRUCT SPENDING +0.0%
