CLP: Paring Recent Losses as Markets Digest Implications of Reserves Program

Aug-07 16:46

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USDCLP continues to pare Wednesday morning's gap higher, which was triggered by the surprise announc...

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Jul-08 16:45

Jul-08 16:43

President Trump states that August 01 is not a change of deadline, it’s a clarification and that the incentive remains for countries to deal in the US. Trump believes the administration is picking out low and fair tariff numbers, with most rates lower than what the US is being charged. Trump reiterates his prior threats on a 10% tariff for nations in BRICS, saying that anybody in BRICS will be getting that charge pretty soon.
Moving onto the dollar, Trump states that if people want to challenge dollar, they'll pay price.
On negotiations with the EU, Trump says the EU was much worse than China in dealing with, but that Von Der Leyen has been very nice recently and that a letter to the EU is probably two days away.
Regarding some other letters, Trump says “we have some 60, 70%. Those are ones with massive you know, where we have massive trade deficits because they've treated us very badly. But I would say in every case, I'm treating them better than they treated us over the years.
Trump says that the administration could have been much harsher on trade, and that they have the ability to go higher with tariffs.

Jul-08 16:40

WI holding steady ahead of the $58B 3Y note auction (91282CNM9) cut-off at 1300ET.
3Y WI is currently at 3.881%, 9.1bp rich to last month's tail: 3.972% high yield vs. 3.967% WI

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