FRANCE: PM Attal Outlines Measures To Resolve Tensions With Farmers
Jan-26 17:23
Wires carrying comments from French Prime Minister Gabriel Attal outlining measures to assuage anger from farmers, stating: "We have received your message loud and clear," after two weeks of rural protests over food prices and fuel taxes.
- Per Reuters, Attal said the government has decided to put agriculture above "anything else," and pledged to open a new chapter for farming in France and urging, "all French citizens, if they can, buy French products."
- Hinting at policy shift, Attal said, "access to water to be made easier for farmers," the French President, "will ask easing of EU rules on fallow land," and "speed up payment of subsidies of agricultural tractor fuel."
- On international trade, Attal said: "France will stay opposed to signing of Mercosur trade deal," a major concern for French farmers and long opposed by President Emmanuel Macron.
- Attal's comments come as the protests threaten to escalate into a blockade of Paris. Bloomberg reports: "Some unions have urged their members to cut off the main routes into Paris on Friday afternoon."
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US TSYS/SUPPLY: Preview $58B 5Y Note Auction
Dec-27 17:10
US Tsy $58B 5Y-Note auction (91282CJR3) at the top of the hour is currently 3.837%, 58.3bp rich vs. last month's high yield stop:
- November auction review: Treasuries rallied (5Y Tsy yields fell 2.5bps) on better - but far from stellar 5Y auction drew 4.425% high yield vs. 4.427% WI.
- Bid-to-cover of 2.46x, stepped up from October's weakest auction of the year at 2.36x, but still a little below the 5-auction average of 2.51x.
- Dealer take-up receded to 16.85% vs 19.4% in Oct and the 5-auction average of 14.0%. Indirect take-up: 65.5 vs 66.6% 5-auction avg, directs 17.6% vs 19.4% 5-auction avg
- Timing: Results for the latest 5Y note sale will available shortly after the competitive auctions closes at 1300ET.
US TSYS: US TSY 17W BILL AUCTION: HIGH 5.210%(ALLOT 73.77%)
Dec-27 16:32
- US TSY 17W BILL AUCTION: HIGH 5.210%(ALLOT 73.77%)
- US TSY 17W BILL AUCTION: DEALERS TAKE 39.89% OF COMPETITIVES
- US TSY 17W BILL AUCTION: DIRECTS TAKE 3.81% OF COMPETITIVES
- US TSY 17W BILL AUCTION: INDIRECTS TAKE 56.30% OF COMPETITIVES
- US TSY 17W BILL AUCTION: BID/CVR 3.15
US TSYS: US TSY 42D AUCTION: HIGH RATE 5.280%; 52.25% AT HIGH
Dec-27 16:32
- US TSY 42D AUCTION: HIGH RATE 5.280%; 52.25% AT HIGH
- US TSY 42D BILL AUCTION: DEALERS TAKE 37.40% OF COMPETITIVES
- US TSY 42D BILL AUCTION: DIRECTS TAKE 6.10% OF COMPETITIVES
- US TSY 42D BILL AUCTION: INDIRECTS TAKE 56.50% OF COMPETITIVES
- US TSY 42D AUCTION: BID/COVER 2.85
