AMERICAS OIL: Houston Ship Channel Reopens to Outbound Traffic: Moran
Mar-14 14:48
Houston Ship Channel Reopens to Outbound Traffic: Moran
- Bloomberg cites Moran Shipping saying the Houston Ship Channel reopened traffic for ships leaving the port at 9am CT Friday as fog conditions improved.
- Inbound traffic remains closed
- HSC closed at 1:55am Friday
- Galveston/ Texas City ship channel reopened to all traffic Friday after closing earlier
- Freeport harbor channel remained open
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US DATA: Notable How Core Services Beat Driven By Supercore Rather Than Rents
Feb-12 14:45
The lack of an upside surprise from rental inflation within the January CPI report was notable, considering the beat for core CPI was concentrated in non-housing core services (plus core goods) and the Fed is more sensitive to market-based services prices rather than the imputed CPI rents series.
- Within the details, OER printed 0.31% M/M (range 0.28-0.36) after an unrevised 0.31% in Dec, whilst primary rents saw a modest beat with 0.35% M/M (range 0.27-0.32) after a marginally downward revised 0.30% in Dec.
- It left the weighted average of 0.32% M/M in January after 0.31% M/M. The 0.25% M/M in Nov (revised up from 0.23%) is still the only month since Apr 2021 that has been at or below the 0.27% averaged pre-pandemic when looking for a crude look at normalization progress.
- Whilst the Fed is likely to have confidence that housing inflation will continue to moderate considering the pipeline implied by new lease data, progress has been slower than expected and it will need to see mutiple months with softer monthly prints.
EGB OPTIONS: Bund outright call buyer
Feb-12 14:44
RXH5 134c, bought for 6 in 10k.
EQUITIES: Program seller on the US Cash Open
Feb-12 14:38
No real surprises in seeing a decent program seller on the Open as Cash Equities gapped lower.
- Program seller with 1688 names, this was the most since 18th December.
