SOUTH AFRICA: President Cyril Ramaphosa 'Very Likely' To Resign (News 24)

Dec-01 12:50

News24 has spoken to a range of senior politicians and civil servants close to the president's decision, that is likely to trigger a credibility crisis for South Africa.
A source close to talks said Ramaphosa did not have to be convinced of the case to resign. The insider said Ramaphosa argued that it was in the best interest of the stability of the country for him to quit.
"There is nothing we can do now," the source said.
The report says indications are that Ramaphosa will resign as state president in the next couple of hours.
Link to article: https://www.news24.com/news24/SouthAfrica/News/bre...

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Nov-01 12:46

The MNI Markets team expects a 75bp hike at this week’s MPC meeting, albeit with risks of a smaller 50bp hike.
UK markets have moved back to close to their prevailing levels ahead of the September MPC meeting but with inflation still in double digits and still flagging concerns in the Bank’s DMP surveys, and still a great deal of uncertainty surrounding the magnitude of fiscal consolidation, we think that the majority of the MPC will not want to disappoint a strong analyst and market consensus of a 75bp hike.
With growth already starting to falter, however, we do think there is a risk that the Bank delivers a smaller 50bp hike (but do not see the need for a larger 100bp hike at this stage).

Nov-01 12:38

Benjamin Harris, Assistant Secretary for Economy Policy at the Treasury Borrowing Advisory Committee, has said in a statement that "the US economy has exhibited remarkable resilience in the face of headwinds."
President Joe Biden will travel to Florida today to campaign on behalf of Democrat Senate candidate Rep Val Demings (D-FL) and Democrat gubernatorial candidate Charlie Crist as Florida appears poised to shed its swing state status become a state which leans Republican.
President Biden has accused oil companies of “war profiteering” and threatened a windfall tax on excess profits.
US Energy Security advisor Amos Hochstein said in Abu Dhabi yesterday that the OPEC+ decision to cut oil production will "accelerate an economic downturn."
Senator Chris Murphy (D-CT), has called for a congressional investigation into the ownership of Twitter, following billionaire Elon Musk’s purchase of the social media platform.
Poll of the Day: More than 50% of GOP aligned voters have expressed concern that the national vote will be incorrectly counted.

Nov-01 12:33

Better call trade on net as underlying continues to surge day ahead FOMC annc.

SOFR Options:
- Block, 8,000 SFRM3 95.25/95.62/96.00 call trees, 2.0 net ref 95.16
Eurodollar Options:
- over 5,600 Dec 95.06/95.25/95.43 call flys
Treasury Options:
- 4,000 wk2 30Y 117/119/121 put flys
- 2,400 FVZ 108.25/109/111 broken call flys
- Block, 5,000 TYZ 110 puts, 36 ref 111-13
- Block, 5,000 TYZ 107/110 put spds, 34 ref 111-05.5
- over 10,300 TYZ2 112.75 calls, 24-26 ref 110-24.5 to -31

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