US: MNI POLITICAL RISK - White House Ramps Up Shutdown Pressure
Oct-02 12:29
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- An intel briefing at 11:00 ET 16:00 BST is the only item in President Donald Trump's diary. Trump signed an order yesterday providing NATO-like security guarantees for Qatar to reassure Gulf allies.
- The US government shutdown has entered Day 2 without any significant movement toward a resolution. Congress is out today, but lawmakers will continue a press blitz to influence messaging. A White House pressure campaign designed to inflict maximum pain on Democrats got underway yesterday.
- The Supreme Court ruled that Fed Governor Lisa Cook will remain in place until a January 2026 hearing.
- The White House paused a 100% tariff on pharmaceuticals intended to take effect yesterday.
- Trump said he had “no choice” but to deploy federal troops to Portland.
- Trump said soybeans will be a “major topic of discussion” when he meets with Chinese President Xi Jinping later this month. Treasury Secretary Bessent indicated a bailout for soybean farmers is incoming.
- Senator Steve Daines (R-SD) said he's working on a crypto tax framework.
- The US will reportedly provide Ukraine with intelligence to support long-range strikes on Russia's energy infrastructure.
- The Treasury Department announced new sanctions on Iran in support of the reimposition of 'snapback' UN sanctions.
- A senior administration official told Semafor the Trump administration isn’t ruling out military strikes inside Venezuela.
- Poll of the Day: More Americans blame Trump and congressional Republicans for the shutdown than Democrats.
Full Article: US DAILY BRIEF
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US TSY FUTURES: BLOCK: Dec'25 2Y Buy
Sep-02 12:28
- +6,100 TUZ5 104-06.12, through 104-06 post time offer at 0814:04ET, DV01 $218,000.
- The 2Y contract has since slipped to 104-05.75 low, -05.88 last (-2.75)
US: MNI POLITICAL RISK - Lawmakers Return To DC For Busy September
Sep-02 12:22
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- President Donald Trump will make an Oval Office announcement at 14:00 ET 19:00 BST, his first formal public appearance since a Cabinet meeting last Tuesday.
- Congress is back in session, with lawmakers facing a hectic September schedule. The most pressing business is averting a government shutdown on Oct 1.
- A federal judge is expecting additional filings today from Fed Governor Lisa Cook's legal team detailing why Trump's firing was unlawful.
- Reps. Ro Khanna (D-CA) and Thomas Massie (R-KY) are expected to trigger a bipartisan discharge petition today calling on the DOJ to release the so-called ‘Epstein files’.
- Treasury Secretary Scott Bessent has “an open mind” as he begins interviewing candidates to be the next Fed chair today.
- Bessent is confident the Supreme Court will uphold Trump's use of emergency powers to impose tariffs on trading partners, but said the administration has a backup plan.
- Trump claimed India offered to lower tariffs on US imports to zero. Bessent downplayed the implications of a public display of solidarity by India, Russia, and China at the SCO summit in Beijing.
- Trump may declare a 'national housing emergency' this fall to address rising house prices.
- The Treasury Department released a list of jobs that are exempt from taxes on tipped earnings.
- Bessent said “all options are on the table” for further sanctions on Russia.
- Poll of the Day: Optimism about improving living standards hits a record low.
Full Article: US DAILY BRIEF
EGB FLOWS: EUREX Roll Pace (updated)
Sep-02 12:19
- Buxl: 39%.
- Bund: 28%.
- Bobl: 50%.
- Schatz: 44%.
- BTP: 20% (below pace).
- BTS: 30%.
- OAT: 31%.
