EM CEEMEA CREDIT: Ooredoo: H1 headlines hitting the tape

The MEF will look to buyback the following:

• the 3.80% Apr-26 BTP (ISIN: IT0005538597)
  the 1.60% Jun-26 BTP (ISIN: IT0005170839)
  the 3.10% Aug-26 BTP Short Term (ISIN: IT0005607269)
  the 1.25% Dec-26 BTP (ISIN: IT0005210650)
  the 0.50% Apr-26 CCTeu (ISIN: IT0005428617)

The former Organisational Secretary of the governing Spanish Socialist Workers' Party (PSOE), Santos Cerdan, has been denied bail and remanded in custody as the Anti-Corruption Office investigates charges of bribery, organised crime, and influence peddling. The case threatens the future of Prime Minister Pedro Sanchez, who has been a long-time confidant of Cerdan, and up until the release of recordings allegedly implicating Cerdan had stood by the senior party figure. 

• Sanchez, who answered questions on Cerdan's detention while moderating and holding press conferences at a UN Summit in Seville, said that with regards to Cerdan's dismissal from his PSOE role, removal from the Congress of Deputies, and revocation of his party membership, “We have acted decisively and with respect for the judiciary, which will determine Mr. Cerdan’s responsibility,”.
• The PM has convened a meeting of the PSOE's federal committee, its highest decision-making body, on 5 July to discuss internal changes that will be announced to the Congress on 9 July.
• El Pais reports that the gov't "trusts that its coalition partners will hold firm because, they insist, despite the undeniable severity of the scandal, it remains confined to what they’ve called “the toxic triangle” (Cerdan, Abalos, Garcia) and some key collaborators, with no evidence of illegal financing so far." It goes on to acknowledge that "the situation remains wide open", with the coalition holding an extremely narrow majority and the opposition centre-right Popular Party (PP) demanding snap elections. 

• Stocks are trading mildly firmer Monday morning, initial support tied to optimistic trade headlines cooling ahead midday. Stocks gained earlier after Canada withdrew plans to implement a digital tax on US tech companies economic advisor Kevin Hassett confirmed Monday - the tax had spurred Pres Trump to terminate trade talks late last Friday.
• Otherwise, "90 deals in 90 days" remains a tall order ahead the July 9 deadline, while Pres Trump floated the idea of keeping 25% tariffs on Japan’s cars as talks between the two nations continued with little more than a week to go before a slew of higher duties are set to kick in if a trade deal isn’t reached.
• “So we give Japan no cars. They won’t take our cars, right? And yet we take millions and millions of their cars into the United States. It’s not fair,” Trump said during a Fox News interview that aired Sunday.
• Currently, the DJIA trades up 216.34 points (0.49%) at 44030.88, S&P E-Minis up 18 points (0.29%) at 6241.25, Nasdaq up 48.2 points (0.2%) at 20321.38.
• Technology sector shares led gainers in the first half: Hewlett Packard +13.04%, First Solar +8.53%, Juniper Networks +8.35%, Palantir Technologies +5.16%, Oracle Corp +4.88% and Super Micro Computer +4.39%.
• Conversely, Industrials - particularly stocks that dealt with alternative energy retreated early Monday: Ralliant Corp -6.10%, AES Corp -4.90%, Fortive Corp -4.54%, NextEra Energy -4.23%, Albemarle Corp -3.31%.