RUSSIA: Kremlin-No 'New Elements' In Trump Tariff & Sanctions Threat
Reuters reporting comments from Kremlin spox Dmitry Peskov. Says on US President Donald Trump's threat of sanctions and tariffs on Russia "We don't see any particularly new elements here", adding "Trump in his first term was a president who often resorted to sanctions." Peskov referring to Trump's post on his Truth Social platform on 22 Jan promising "Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States" if the war in Ukraine continues. On the prospect of talks with Trump Peskov says "We remain ready for equal and mutually respectful dialogue." Peskov: "we are waiting for signals, waiting for signals that have not yet been received,"
- Tass reports Peskov saying that Putin may give an interview to US-based podcaster Lex Fridman, but that this was "not a matter for the near future".
- Referring to the Reuters article claiming President Vladimir Putin "has grown increasingly concerned about distortions in Russia's wartime economy," Peskov claims "We maintain a relatively high rate of development despite certain problematic factors...Our economy will allow us to meet all military requirements and social obligations...The situation is stable".
- Peskov said "I would like to emphasize once again that unfriendly actions against the Russian Federation cannot but have consequences for those who take them," referring to the multi-billion euro penalty levied against Austria's Raiffeisen Bank earlier this week.
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FOREX: FX OPTION EXPIRY
Of note:
EURUSD 1.31bn at 1.0400 (fri).
- EURUSD: 1.0400 (590mln).
- USDJPY: 157.00 (431mln).
- USDCNY: 7.2814 (600mln).
GILTS: Testing session low
- The UK 10yr Yield remains higher today, futures underperforms the US Treasuries.
- The Yield managed a 4.651% high this Month, the highest print since November 2023.
- Looking further out, the 2023 high is situated at 4.752%, this was also the highest print since late 2008.
- Today, reference 92.23, would equate to 90.72.
CROSS ASSET: MONTH END EXTENSION (update)
This should be a non event for Year End, they are small, and only the lower liquidity could get Govies moving, but unlikely, as investors turn their attention to 2025.
Bloomberg Bonds:
- US Tsys: +0.07yr (small, average).
- EU Govies: +0.04yr (small).
- UK Govies: -0.02yr (non event).
MS Bonds:
- US Tsys: +0.05yr (small).
- EU Govies: +0.03yr (small).
- UK Govies: To contract (non event).
Barclays FX:
- Their Quarter rebalancing model only shows a Weak Dollar Buying signal.
