ISRAEL: Netanyahu Delivers Address At UNGA

Sep-26 13:30

Prime Minister Benjamin Netanyahu is delivering his address to the UN General Assembly in New York City. In a speech largely targeted at his electoral base and at US President Donald Trump, Netanyahu says that Israel has "hammered the Houthis, crushed the bulk of Hamas and crippled Hezbollah", as well as "devastating" Iran's atomic weapons and ballistic missiles program. 

  • Netanyahu thanks Trump for his "bold, decisive action" against Iran. Says that Israel has "removed an existential threat of Iran"
  • Netanyahu: "Iran was rapidly developing a massive nuclear weapons program and a massive ballistic missile program. These were meant not only to destroy Israel, they were meant also to threaten the United States and blackmail nations everywhere. We must remain vigilant...We must not allow Iran to rebuild its military nuclear capacities, Iran stockpiles of enriched uranium. These stockpiles must be eliminated, and tomorrow, UN Security Council sanctions on Iran must be snapped back."
  • Claims that "behind closed doors, many of the leaders who publicly condemn us, thank us privately." Goes on to strongly criticise the gov'ts and leaders of the countries that have opposed the war in Gaza, claiming that they are "appeasing evil".
  • A mass walkout of delegates occurred ahead of Netanyahu's speech, with Barak Ravid at Axios reporting these were "Not only representatives of Muslim and Arab countries. Also representatives of countries in Africa and a few individual countries in Europe"

Historical bullets

EGB OPTIONS: Bund Ratio Put Spread

Aug-27 13:26

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EQUITIES: US Cash Opening Calls

Aug-27 13:25

Although Equity futures have drifted slightly lower, we are set for a flat Cash Open, albeit a touch lower.

  • Calls: SPX: 6,464.3 (-0.0%); DJIA: 45,403 (-0.0%/-15pts); NDX: 23,503.8 (-0.1%).

SECURITY: E3 Edges Closer to Triggering Snapback Sanctions On Iran

Aug-27 13:10

Reuters reports that Britain, France and Germany, the ‘E3’ signatories to the 2015 Iran nuclear deal, “are likely to begin the process of reimposing UN [snapback] sanctions on Iran on Thursday.”

  • The report notes that the group still maintains hope that Tehran will “provide commitments over its nuclear programme within 30 days that will convince them to defer concrete action,” according to four diplomats.
  • As the US withdrew from the Iran nuclear deal during President Donald Trump’s first term, Washington has no direct input into the snapback mechanism. If the E3 chooses to trigger the snapback, then punitive UN sanctions on Iran's financial, banking, hydrocarbons, and defence sectors will take effect in 30 days.
  • The Reuters report supports a piece from Bloomberg earlier, which noted that the E3 will “maintain contacts in coming days” after talks on Tehran’s nuclear program concluded in Geneva on Tuesday without a breakthrough.
  • Iranian foreign ministry spokesperson Esmaeil Baghaei told state television today that Iran wants to “make use of all diplomatic capacities” following Tuesday’s meeting in Geneva, per Bloomberg.