US: MNI POLITICAL RISK - Trump Under Pressure To Penalise Russia
Sep-11 12:02
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- President Donald Trump will attend a September 11th observance event at 08:45 ET 13:45 BST before departing for New York City, where he will attend a baseball game.
- The news cycle today will be dominated by the assassination of conservative activist Charlie Kirk, shot yesterday at a Turning Point USA event in Utah.
- The Senate Banking Committee voted 13-11 yesterday to advance the nomination of CEA Director Stephen Miran to serve on the Federal Reserve’s Board of Governors.
- A team from the Department of Defense and Boeing will travel to India next week, hinting at a thaw between Washington and New Delhi.
- Rare telephone conversations between top Chinese and US officials yesterday suggest a meeting between Trump and Chinese President Xi Jinping could be under discussion.
- US Energy Secretary Chris Wright and Trump’s ‘Energy Czar’ Doug Burgum will ramp up pressure on the EU today to relax climate regulations that could undermine US plans to increase fossil fuel exports to the bloc.
- Senate Minority Leader Chuck Schumer (D-NY) said partisan Republican funding proposals to avert a government shutdown “can’t get our votes.”
- Senator John Kennedy (R-LA) wants a pause on a pending cryptocurrency market structure bill.
- Treasury Secretary Scott Bessent warned of 'stagnation' at a meeting of the Financial Stability Oversight Council.
- Pressure is growing on Trump to endorse new Russia sanctions.
- Poll of the Day: The 'OBBB' will reduce US population growth.
Full Article: US DAILY BRIEF
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GILT PAOF RESULTS: The PAOF for the 4.375% Mar-30 Gilt was not taken up.
Aug-12 12:02
- GBP1.1875bln have been on offer.
- This leaves GBP40.465bln of the gilt in issue.
ECB: Nagel Echoes Prior Rhetoric: Rates At A Very Good Level
Aug-12 12:01
Comments from ECB's Nagel seem in line with his prior stance at first glance (Source: Bloomberg)
- "*ECB'S NAGEL: WE CAN REACT FLEXIBLY IF NECESSARY"
- "*ECB'S NAGEL: INTEREST RATES ARE AT A ‘VERY GOOD LEVEL’"
- "*ECB'S NAGEL: TARIFF UNCERTAINTY LOWER BUT NOT FULLY REMOVED"
- "*ECB'S NAGEL: INFLATION NO LONGER A MAJOR CHALLENGE"
NORGES BANK: MNI Norges Bank Preview - Aug '25: Slow and Steady
Aug-12 11:51
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EXECUTIVE SUMMARY:
- Norges Bank is unanimously expected to keep the policy rate on hold at 4.25% on Thursday, while continuing to guide towards further cuts in H2.
- After surprising markets with a 25bp cut in June, macroeconomic data has broadly confirmed Norges Bank’s outlook. With the June MPR rate path consistent with “one or two” more cuts in H2 and implied probabilities tilted in favour of easing at the September and December MPR meetings, there appear few reasons to go against market consensus in August.
- We expect the primary guidance language from June to be maintained in the policy statement. With a rate hold fully priced and unanimously expected, a significant market reaction would require material deviations from the existing guidance language.
- Quarterly cuts in September and December remains the base case amongst analysts.
