US: MNI POLITICAL RISK - White House Teases Trump Announcement
Aug-06 12:18
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- President Donald Trump will make an “announcement” at the White House at 16:30 ET 21:30 BST. The subject is unclear, but it could be related to new measures against Russia or open Fed/BLS positions.
- Swiss President Karin Keller-Sutter will meet Secretary of State Marco Rubio today to present an “attractive offer” to avert a 39% tariff rate. The absence of meetings with Trump or senior trade officials suggests Switzerland may struggle to secure a deal.
- The US trade deficit shrank in June to its lowest level in nearly two years.
- Within the next week, Trump will announce pharmaceutical tariffs that could rise to 250%. Trump is also expected to announce new tariffs on semiconductors.
- Trump has whittled down potential Fed nominees to a shortlist of four.
- Trump appears to be inching closer to approving a 90-day tariff and export control pause with China.
- Canadian ministers met Mexican President Claudia Sheinbaum yesterday to bolster ties ahead of next year’s USMCA review.
- Brazil's Finance Minister will speak with Treasury Secretary Scott Bessent next week.
- Trump is preparing an executive order to punish banks that discriminate against conservatives.
- Trump negotiator Steve Witkoff met Russian President Vladimir Putin ahead of Trump's deadline for reaching a ceasefire agreement with Ukraine.
- Trump said a decision to occupy Gaza is “pretty much up to Israel”.
- Poll of the Day: Friday’s disappointing jobs report appears to be resonating with Americans.
Full Article: US DAILY BRIEF
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SPAIN T-BILL AUCTION PREVIEW: On offer this week
Jul-07 12:01
Tesoro Publico has announced it will be looking to sell a combined E2.0-3.0bln of the following letras at its auction tomorrow, July 8:
- the 3-month Oct 10, 2025 letras
- the 9-month Apr 10, 2026 letras
EUR: EURGBP Targets the immediate support.
Jul-07 11:45
- The EUR is mostly mixed against G10s, the Stokkie is still the best performer following the rise in Inflation for Sweden.
- The Kiwi sits at the other end, down 0.56% but off its worst earlier levels, after EURNZD rallied to its highest level since mid April heading into the European session.
- EURGBP targets the next immediate support at 0.8606, this was last Thursday's low.
- A clear break through the figure would challenge 0.8550/0.8503 20- and 50-day EMA values, but given that the main focus is on Tariffs this Week, some of the momentum could be somewhat more contained.
PIPELINE: Early Corporate Bond Roundup: IADB, Shinhan, Nissan Motors on Tap
Jul-07 11:44
- Date $MM Issuer (Priced *, Launch #)
- 07/07 $Benchmark IADB 10Y
- 07/07 $Benchmark Nissan Motor 5Y 7.25%a, 7Y 7.75%a, 10Y 8%a
- 07/07 $Benchmark Shinhan Financial 5Y +63
- 07/07 $Benchmark NTT Finance Corp multi tranche investor calls: 2Y, 3Y fix/SOFR, 5Y fix/SOFR, 7Y, 10Y, 12Y -- in addition to EUR issuance 2Y, -4Y, 8Y and 12Y
