EMISSIONS: EU Will Deduct Indian Carbon Price Under CBAM
The EU will deduct carbon costs paid under India's Carbon Credit Trading Scheme under the EU CBAM, a...
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US SWAPS: J.P.Morgan Recommend 2-Year Spread Wideners
Late on Friday J.P.Morgan recommended 2-Year swap spread wideners.
- They reasoned that “swap spread volatility is back to year-to-date lows, making wideners attractive from a carry perspective. The 2-Year sector also offers the most favorable risk-adjusted carry relative to other sectors. Moreover, T-Bill supply in July was well digested from money funds and demand is likely to continue, which will likely keep funding conditions orderly through the remainder of the TGA rebuild phase. Lastly, front end swap spreads appear narrow to fair value”.
US TSY FUTURES: BLOCK: Sep'25 10Y Buy
- +9,000 TYU5 111-24.5, buy through 111-24 post-time offer at 0859:52ET, DV01 $796,000.
- The 10Y contract trades 111-23 last (+4).
MIDEAST: Trump Stresses Need To Destroy Hamas
U.S. President Trump posts the following to Truth Social: "We will only see the return of the remaining hostages when Hamas is confronted and destroyed!!! The sooner this takes place, the better the chances of success will be. Remember, I was the one who negotiated and got hundreds of hostages freed and released into Israel (and America!). I was the one who ended 6 wars, in just 6 months. I was the one who OBLITERATED Iran’s Nuclear facilities. Play to WIN, or don’t play at all! Thank you for your attention to this matter! President DJT"
