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BOE: Options left open to further delay the start of active gilt sales
Sep-28 12:17
- We still await the BOE's Market Notice.
- The start of active gilt sales is postponed until 31 October.
- This is before the next MPC policy announcement due on Thursday 3 November (to try and convince the market these sales will still go ahead).
- But it will be after the first presentations to the MPC on the macro outlook, and after they've received presentations from the Markets division on market conditions/developments/what's priced in.
- So the signalling is here from the MPC that they want to press ahead with active gilt sales, but the optionality has been left open for a further postponement when they have more information, if they then deem it necessary.
US TSYS: Repo Reference Rates
Sep-28 12:09
- Secured Overnight Financing Rate (SOFR): 2.98%, $949B
- Broad General Collateral Rate (BGCR): 2.98%, $376B
- Tri-Party General Collateral Rate (TGCR): 2.98%, $352B
- (rate, volume levels reflect prior session)
US: MNI POLITICAL RISK - US Daily Brief
Sep-28 12:00
- Senate Majority Leader Chuck Schumer (D-NY) has dropped Senator Joe Manchin’s (D-WV) energy permitting reform proposal from the continuing resolution to keep the government funded until December 16.
- Florida Governor Ron DeSantis (R-FL) will be under the spotlight as Hurricane Ian heads towards Florida’s Gulf Coast.
- The January 6 Committee hearing scheduled to take place today has been postponed.
- A deal on visas could incentivise India's participation in a US led price cap on Russian oil.
- The US is preparing more sanctions if Moscow annexes Ukrainian territory.
- Poll of the Day: US voters are increasingly confident in the American political system.