US: MNI POLITICAL RISK - Miran Faces Senate w/Cook Ruling Pending

Sep-04 12:04

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  • President Donald Trump will host tech and business leaders in the White House Rose Garden at 19:30 ET 00:30 BST.
  • An initial decision from the DC court on Fed Governor Lisa Cook’s firing could come today or tomorrow.
  • At 10:00 ET 15:00 BST, Stephen Miran will appear before the Senate Banking Committee for the first stage of his confirmation to the Fed board. Miran will tell the panel that he intends to preserve the Fed's independence.
  • Trump called on the Supreme Court to uphold his tariff regime.
  • Secretary of State Marco Rubio concludes a short LatAm swing today that has been overshadowed by US military action in the South Caribbean.  
  • A reduced tariff rate on Japanese autos could take effect by the end of September.
  • The implied probability of a government shutdown by October 1 ticked up, despite reports of a GOP funding plan.
  • Trump appeared to U-turn on deploying National Guard troops to Democrat-run cities without state consent.
  • Treasury Secretary Scott Bessent will convene the Financial Stability Oversight Council on September 10.
  • European leaders will call Trump after today's meeting of the 'Coalition of the Willing'.
  • A US-Mexico security cooperation agreement appears less comprehensive than expected.
  • Tuesday's military strike on 'narcoterrorists' could be the start of an extended campaign against Venezuelan cartels.
  • Poll of the Day: There are more unemployed Americans than job openings for the first time in four years.

Full Article: US DAILY BRIEF

Historical bullets

STIR: Repo Reference Rates

Aug-05 12:03
  • Secured Overnight Financing Rate (SOFR): 4.33% (-0.01), volume: $2.828T
  • Broad General Collateral Rate (BGCR): 4.31% (-0.01), volume: $1.141T
  • Tri-Party General Collateral Rate (TCR): 4.31% (-0.01), volume: $1.117T
  • (rate, volume levels reflect prior session)

GILT PAOF RESULTS: GBP1.124997bln of the 4.50% Mar-35 Gilt sold.

Aug-05 12:02
  • GBP1.125bln have been on offer.
  • This leaves GBP40.752bln of the gilt in issue.

STIR FUTURES: BLOCK: Dec'25 SOFR Sale

Aug-05 11:55
  • -10,913 SFRZ5 96.26, post time bid at 0738:25ET.
  • The Dec'25 contract trades 96.255 last (-0.035)

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