EU CONSUMER STAPLES: JDE Peet's: rating agencies comments

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A number of high-ranking European politicians have expressed their disappointment at the trade deal agreed between US President Donald Trump and European Commission President Ursula von der Leyen over the weekend in Scotland. Most prominent has been French PM Francois Bayrou, who posted on X: “It is a dark day when an alliance of free peoples, united to assert their values and defend their interests, resigns itself to submission”. Chair of the European Parliament's Trade Committee, German MEP Bernd Lange said  "My first assessment: not satisfactory. This is a lopsided deal. Concessions have clearly been made that are difficult to accept." 

• Trade Commissioner Maros Sefcovic has attempted to defend the deal, claiming in a press conference on 28 July that "This is clearly the best deal we could get under very difficult circumstances,". German Chancellor Friedrich Merz said, "a trade conflict has been averted that would have severely impacted the export-oriented German economy", while Irish Foreign Minister Simon Harris said the agreement gave a "measure of much-needed certainty".
• Others have been circumspect. Danish Foreign Minister Lars Lokke Rasmussen said, “The trade conditions will not be as good as before, and it is not our choice, but a balance must be found that stabilises the situation and that both sides can live with".
• While details on the deal still need to be nailed down, a Commission official raised the prospect of the deal being fast-tracked, rather than being implelemented via a lengthy mechanism (see 'MNI BRIEF:US Deal May Need No Lengthy Ratification-EU Official', 28 July). 

• +60,000 SFRV5 96.18/96.43 call spds 4.5 vs. 96.07 (open interest at 41,624 and 31,339 in the two strikes, respectively).