FRANCE: Opposition Files Censure Motion; Confidence Vote Likely Early Next Week
Mar-17 13:57
The opposition Liberties, Independents, Overseas and Territories (LIOT) group in the National Assembly has, as expected, tabled a motion of censure against the gov't over its use of the Article 49.3 mechanism in the French constitution to push through President Emmanuel Macron's controversial pension reforms. WSJ and Daily Mail reports that the vote is likely to take place early next week.
- LIOT states that the motion is a 'transpartisan' one, signed by 91 deputies from five different groups within the National Assembly.
- As we noted in a previous bullet (see 1109GMT bullet): In order for the gov't to fall a majority of the entire 577-member National Assembly must vote in favour of the censure motion, not just a majority of the deputies present. This means that any deputy absences or abstentions effectively works in the gov'ts favour by reducing the number of lawmakers able to vote for the motion.
- The 61 deputies of the opposition centre-right Les Republicans are set to prove crucial. Leader Eric Ciotti has stated that he will call for his lawmakers not to vote for the motion. However, if 27 rebel and all other opposition deputies vote for the motion, it would be enough to bring the gov't down.
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US-CHINA: US Def Sec: Not Aware Of Additional Objects In US Airspace
Feb-15 13:56
US Defense Secretary Lloyd Austin, speaking at the NATO Defence Ministerial in Brussels, has told reporters that he is not aware of any additional objects operating in US airspace in the past 48 hours.
- Austin's comments comes as temperatures lower in Washington after an week of ultra-hawkish rhetoric from US lawmakers.
- US officials have conceded that the three most recent downed objects may have been “benign” objects unconnected with China or surveillance and the Washington Post has reported that the original "spy balloon" may have been blown off an intended course over Guam, rather than intentionally penetrated continental US airspace.
- The diplomatic spat with China likely to persist with Beijing submitting counteraccusations of US espionage over "Xinjiang, Tibet and other provinces."
- Secretary of State Antony Blinken may hold a meeting with top Chinese diplomat Wang Yi on the margins of the Munich Security Conference this week but the State Department refused to confirm a timeline for re-establishing face-to-face diplomacy: "We’re going to continue to listen to what the PRC says… and make our own determination about when the time is right...”
STIR: BLOCK, Large short Jun'23 SOFR Put Covered
Feb-15 13:52
- 46,000 OQM3 95.50 puts, 24.5 ref 95.765 vs. 95.73/0.44% at 0844:25ET
STIR: BLOCK, short Jun'23 SOFR Ratio Broken Put Fly
Feb-15 13:47
- 5,000 OQM3 95.50/95.87/96.50 2x3x1 broken put flys, 67.0 net, wings over ref 95.735
