BRAZIL: Lula Ready to Negotiate on Tariffs, Mid-Month IPCA Inflation Data Due
* Brazilian President Lula told reporters in Jakarta that Brazil is ready to engage in negotiation...
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EGB SYNDICATION: Latvia Benchmark 10-Year Syndication Mandate
Latvia has mandated Deutsche Bank, Erste Group and Goldman Sachs Bank Europe SE for a potential benchmark syndicated transaction of a Euro-denominated 10-year line, subject to market conditions, according to Bloomberg.
LOOK AHEAD: Wednesday Data Calendar: New Home Sales, Build Permits, 5Y Note Sale
- US Data/Speaker Calendar (prior, estimate)
- 09/24 0700 MBA Mortgage Applications (29.7%, --)
- 09/24 1000 New Home Sales (652k, 650k), MoM (-0.6%, -0.3%)
- 09/24 1130 US Tsy $28B 2Y FRN re-open (91282CNQ0) & $65B 17W bill auctions
- 09/24 1300 US Tsy $70B 5Y Note Auction (91282CPA3)
- 09/24 #### Building Permits (1.312M, 1.312M), MoM (-3.7%, 0.0%)
- 09/24 1610 SF Fed Daly economic outlook, moderated Q&A
- Source: Bloomberg Finance L.P. / MNI
SOFR: Long Setting Most Prominent In Futures On Tuesday, Pockets Of Cover Seen
OI data points to net long setting dominating as SOFR futures ticked higher on Tuesday, with the only short cover of any real note coming in the reds.
| 23-Sep-25 | 22-Sep-25 | Daily OI Change |
| Daily OI Change In Packs |
SFRU5 | 1,469,770 | 1,461,381 | +8,389 | Whites | +39,767 |
SFRZ5 | 1,559,007 | 1,550,994 | +8,013 | Reds | +7,684 |
SFRH6 | 1,180,726 | 1,163,177 | +17,549 | Greens | +11,130 |
SFRM6 | 1,053,819 | 1,048,003 | +5,816 | Blues | +8,905 |
SFRU6 | 930,052 | 938,440 | -8,388 |
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SFRZ6 | 1,074,520 | 1,042,996 | +31,524 |
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SFRH7 | 744,495 | 745,722 | -1,227 |
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SFRM7 | 802,467 | 816,692 | -14,225 |
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SFRU7 | 665,961 | 661,401 | +4,560 |
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SFRZ7 | 717,820 | 709,544 | +8,276 |
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SFRH8 | 431,095 | 436,204 | -5,109 |
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SFRM8 | 368,415 | 365,012 | +3,403 |
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SFRU8 | 276,589 | 270,876 | +5,713 |
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SFRZ8 | 301,116 | 299,920 | +1,196 |
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SFRH9 | 190,007 | 188,377 | +1,630 |
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SFRM9 | 176,432 | 176,066 | +366 |
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