INDIA: GST Council Agrees to Two-Rate Slabs of 5% and 18%
Sep-03 16:07
- "INDIA GST COUNCIL AGREES TO TWO-RATE SLAB: COUNCIL MEMBER" - BBG
- "INDIA GST COUNCIL AGREES TO 5%, 18% TAX RATES: MEMBER"
The above headlines are in-line with expectations. Currently, there are are four slabs of 5%, 12%, 18%, and 28% of GST rates. Most items currently in the 12% band will shift to 5%, and those in the 28% band will move to 18%. A special 40% rate will apply to some select items.
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SOFR OPTIONS: Large Conditional Bear Curve Flattener, Vol Buyers
Aug-04 16:04
Underlying futures mostly firmer, short end lagging as curves reverse early steepening. Projected rate cut pricing has cooled slightly from pre-open highs (*) levels: Sep'25 at -22.7bp (-22.6bp), Oct'25 at -40.1bp (-41.1bp), Dec'25 at -60.6bp (-61.6bp), Jan'26 at -72.1bp (-73.1bp).
- +30,000 SFRU5 95.75/95.87 put spd vs. SFRZ5 95.81/95.93 put spd spd, 1.0-1.25 net flattener
- +10,000 SFRH6 96.37 puts, 19.5 vs. 96.495/0.44%
- +5,000 2QU5 95.68 straddles, 27.5
OPTIONS: Expiries for Aug05 NY cut 1000ET (Source DTCC)
Aug-04 15:52
- EUR/USD: $1.1425(E1.6bln), $1.1450-56(E574mln), $1.1500(E1.4bln), $1.1550(E2.3bln), $1.1585-00(E3.2bln), $1.1650-60(E784mln)
- USD/JPY: Y146.00($611mln), Y147.45-53($630mln), Y148.00($558mln)
- GBP/USD: $1.3330-60(Gbp1.0bln), $1.3390(Gbp643mln)
- EUR/GBP: Gbp0.8650-70(E1.3bln)
- AUD/USD: $0.6465-80(A$1.2bln)
- USD/CAD: C$1.3850($601mln)
US TSY FUTURES: BLOCK: Sep'25 2Y Buy
Aug-04 15:48
- +6,600 TUU5 103-30.5, buy through 103-30.38 post time offer at 1139:00ET, DV01 $244,000.
- The 2Y contract trades 103-31 last, +.25
