OUTLOOK: Price Signal Summary - Gilts Remain Above Support For Now

Nov-07 12:26

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* In the FI space, a short-term bear cycle in Bund futures remains intact and the contract is trad...

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US: MNI POLITICAL RISK - Govt Shutdown Day 8, No Sign Of Offramp

Oct-08 12:24

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  • President Donald Trump will receive an intel briefing in the morning before participating in a “roundtable on ANTIFA” at 15:00 ET 20:00 BST, as National Guard troops arrive in Chicago.
  • Senate Majority Leader John Thune (R-SD) teed up a sixth vote on the duelling Republican and Democratic government funding measures at 11:20 ET 16:20 BST. Both bills are expected to fail.
  • Republicans are struggling with strategy to ramp up pressure on Democrats. Earlier this week, Trump undermined Republican messaging by hinting at a bipartisan deal on Obamacare. The White House has also offered mixed signals on federal layoffs. Air traffic controller shortages could play a role in ending the shutdown.
  • The Trump administration has pushed back plans for a farmer bailout due to the government shutdown.
  • The White House is weighing up cancelling an additional USD$12 billion in clean energy funding.
  • Canadian Prime Minister Mark Carney escaped an Oval Office meeting without a public blowout, but little progress towards a trade deal with Trump.
  • Secretary of State Marco Rubio will attend an October 9 ministerial in Paris to discuss Gaza peace negotiations.
  • Senate Democrats will force a war powers vote on Venezuela as Trump moves closer to open conflict with Caracas.
  • Russia's Deputy Foreign Minister said efforts at Ukraine diplomacy discussed at the Putin-Trump summit in Alaska have been exhausted.   
  • Poll of the Day: Democrats are in a weaker midterm position than during Trump's first term. 

Full Article: US DAILY BRIEF

STIR FUTURES: BLOCK: SOFR Red Pack

Oct-08 12:24
  • Total 5,000 SOFR Red packs (SFRZ6-SFRU7) +0.005 from 0811:53ET to 0815:50ET
  • Potentially a swap-tied sale as spreads run wider in the vicinity this morning

STIR: Repo Reference Rates

Oct-08 12:17
  • Secured Overnight Financing Rate (SOFR): 4.14% (-0.01), volume: $2.946T
  • Broad General Collateral Rate (BGCR): 4.12% (-0.01), volume: $1.165T
  • Tri-Party General Collateral Rate (TCR): 4.12% (-0.01), volume: $1.134T
  • (rate, volume levels reflect prior session)