COLOMBIA: Lower House Labour Committee Approves Pension Reform Bill
May-24 11:51
- Last night, the labour committee of the lower house of Congress approved the government’s proposed pension reform bill. The committee maintained the Senate approved threshold of 2.3 minimum wages for labour contributions that would be managed by the public sector and set a fee of up to 0.6% on assets that private pension funds will manage. The additional 2% fee on real returns that was approved by the Senate was rejected by the lower house committee.
- The bill will need a final approval in the lower house, followed by a vote to reconcile any differences between the two chambers. Pension reform would be implemented starting July 2025.
- No macro data are due today, but the government’s oil and gas agency will present its annual report at 1530BST(1030ET). Next week, April unemployment date will be released on Friday, while BanRep will also hold a (non-monetary policy) Board meeting that day.
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US TSYS: Early SOFR/Treasury Option Roundup: Back to Puts
Apr-24 11:36
Modest SOFR and Treasury option volume focus on downside puts overnight, underlying futures moderately lower as Tuesday's post flash PMI support is scaled back. In turn, projected rate cut pricing swung back to recent lows: May 2024 -2.6% w/ cumulative -0.6bp at 5.322%; June 2024 at -13.6% vs. -16.2% late Wednesday w/ cumulative rate cut -4bp at 5.288%. July'24 cumulative at -11.6bp vs. -13.6bp, Sep'24 cumulative -22.9bp vs. -25.6bp.
- SOFR Options:
- 3,300 SFRZ4 94.87/95.37 2x1 put spds ref 95.065
- 1,250 SFRV4 /SFRZ4 94.37/94.62 put spd spd
- 2,500 SFRZ4 94.00/94.12/94.37/94.50 put condors ref 95.075
- 2,500 SFRK4 94.93/95.06 call spds ref 94.73
- Treasury Options: Reminder, May options expire Friday
- 6,000 wk2 US 106.25 puts expire May 10
- 4,700 weekly Wednesday 10Y 107.5 puts, 1 expire today
- 2,500 TYK4 107.25/108 2X1 put spds
SCHATZ: Swap related trade
Apr-24 11:27
Schatz Swap trade, suggest Payer:
- DUM4 5.55k at 105.285.
OAT: Through Monday's low
Apr-24 11:21
Oat Swap related trade, suggest Payer:
- OATM4 ~3.28k at 125.61.
