HUNGARY: European Commission Probing Allegations of Hungary Spying
Oct-09 12:14
Per Politico, the European Commission has said it would probe reports that Hungary's government deployed intelligence officers to Brussels to gather information on EU institutions and recruit an EU official.
- The move follows a joint investigation by Germany's Der Spiegel, Belgian daily De Tijd, Hungarian outlet Direkt36 and others who reported that Hungarian intelligence officials disguised as diplomats tried to infiltrate EU institutions while Olivér Várhelyi was Hungary's ambassador to the bloc. Várhelyi is now a European commissioner.
- Politico write that the espionage activities "would be more in line with practices carried out by Moscow and Beijing", than an EU member country, and that it could "fuel distrust of Hungary in Brussels".
- Citing unnamed Hungarian EU officials and other sources familiar with the operation, Direkt36 reported that Hungary's foreign intelligence service developed a Brussels spy network between 2012 and 2018. Hungarian citizens working for EU institutions were reportedly instructed to leak sensitive internal documents to its agents.
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US: MNI POLITICAL RISK - Miran On Track For Swift Fed Confirmation
Sep-09 12:06
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- President Donald Trump is expected to take questions from reporters when he signs a proclamation at 16:30 ET 21:30 BST.
- At 10:00 ET 15:00 BST, the BLS will release payroll revisions for the year ending March 2025. Trump advisors are preparing a report criticising the agency's jobs data.
- The Supreme Court ruled that Trump can fire FTC Commissioner Rebecca Slaughter and overturned a lower court restriction on immigration raids in Los Angeles.
- Trump is struggling to contain the fallout from the Epstein case but appears to have resolved a rift with conservative commentators, reducing his political exposure to the issue.
- CEA Chair Stephen Miran appears set for a smooth confirmation to the Fed board after Senator Thom Tillis (R-NC) said he will vote in favour of Miran’s confirmation.
- The Senate Banking Committee will vote on Miran’s confirmation tomorrow at 10:00 ET 15:00 BST, teeing up a full Senate vote on September 15, a day before the FOMC meeting.
- Medicaid cuts could slow growth in health jobs.
- South Korea’s foreign minister is in Washington to discuss an immigration raid that prompted a furious reaction in Seoul.
- The risk of a government shutdown receded slightly after a 'four corners' meeting.
- Defense Secretary Pete Hegseth made an unannounced visit to Puerto Rico as the US prepares to expand military operations against Latin American cartels.
- Poll of the Day: Democrats view capitalism less favourably.
Full Article: US DAILY BRIEF
GILT PAOF RESULTS: GBP60.0mln of the 4.75% Oct-43 Gilt sold.
Sep-09 12:01
- GBP437.5mln have been on offer.
- This means GBP34.875bln of the gilt remain in issue.
OUTLOOK: Price Signal Summary - Bear Threat In Oil Futures Still Present
Sep-09 11:52
- On the commodity front, Gold remains in a clear bull cycle and last week’s gains plus Monday’s bullish start to the week, reinforce current conditions. The yellow metal has traded to a fresh all-time high. The break also confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is $3674.8, a 2.382 projection of the Dec 30 ’24 - Apr 3 - 7 price swing. Initial firm support lies at $3458.7, the 20-day EMA.
- In the oil space, the trend condition in WTI futures is unchanged - a bear cycle remains intact. The pullback from last Tuesday’s high highlights a possible reversal and the end of the corrective phase. Initial resistance to watch is $66.03, the Sep 2 high. Key short-term resistance has been defined at $69.36, the Jul 30 high. A stronger resumption of weakness would pave the way for a move towards $57.71, the May 30 low.
