EM CEEMEA CREDIT: NAVOIM: guidance out

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MNI's Political Risk team has published its Week Ahead article, looking at some of the major political events scheduled for the coming week. Includes info on US allies and adversaries reacting to Trump tariffs; EU trade ministers meeting on the Union's response; and US Speaker Johnson looking to advance the budget resolution. 

NEC Director Hassett says "it is time to ease off the rhetoric a bit"  while noting that countries are bringing "some great deals" following the tariff announcement.

• Risk-positive price action follows, but e-mini S&P 500 futures don't challenge their recovery highs and TY futures only manage a minor breach of prior session lows.
• FX trade sees the CHF & JPY trade on the defensive following the headlines, while the likes of the AUD firm.

• +4,200 UXYM5 112/113 put spds, 9 last few minutes