RUSSIA: Putin Ramps Up Rhetoric In SPIEF Speech

Jun-16 14:44

Russian President Vladimir Putin speaking at the St Petersburg International Economic Forum on the war in Ukraine, issuing hard-line rhetoric on the potential for the use of nuclear weapons, the risk of direct conflict with NATO, and on the potential for dialogue.

  • Putin says that former US President Donald Trump introduced a lot of sanctions against Russia but that "I don't rule out we could have gone the path of peaceful resolution in Ukraine under other US administration", potentially implying that should Trump have won the 2020 presidential election the invasion of Ukraine would not have taken place.
  • Putin states that 'We are ready for contact with the US administration, there is almost no contact now...We have never rejected dialogue, they decided to stop it, but in the end they will want to...We have never closed doors for diplomacy"
  • Putin: "There is danger of drawing NATO into the conflict...If F16s are deployed outside Ukraine's borders but used in combat actions, we may consider how and where to hit them"
  • Putin: "Usage of nuclear weapon is possible in theory in case of danger to our territory, but there is no need...We have more such weapons than NATO...Tactical nuclear weapon is already in Belarus...We may use nuclear weapon only in case of threat to existence of Russian state."

Historical bullets

PIPELINE: Banks Driving Thursday's US$ Issuance

May-17 14:40
  • Date $MM Issuer (Priced *, Launch #)
  • 05/17 $3.5B Venture Global 5NC2, 8NC3
  • 05/17 $1B *NRW Bank 3Y +32
  • 05/17 $500M BNY Mellon 3NC2 +120a
  • 05/17 $Benchmark Blackrock 10Y +145a
  • 05/17 $Benchmark ITC 5Y +145a, 10Y +190a
  • 05/17 $Benchmark Amcor Finance 10Y +230a
  • 05/17 $Benchmark EDF 5Y +240a, 10Y +290a, 30Y +320a
  • 05/17 $Benchmark Schwab 6NC5 +220a, 11NC10 +245a
  • 05/17 $Benchmark Social Edison 3Y +125a, 30Y +205a
  • 05/17 $Benchmark Southern California Gas 10Y +165a, 30Y +190a

US EIA: CRUDE OIL STOCKS EX SPR +5.04M TO 467.6M MAY 12 WK

May-17 14:30



  • US EIA: CRUDE OIL STOCKS EX SPR +5.04M TO 467.6M MAY 12 WK
  • US EIA: DISTILLATE STOCKS +0.08M TO 106.2M IN MAY 12 WK
  • US EIA: GASOLINE STOCKS -1.38M TO 218.3M IN MAY 12 WK
  • US EIA: CUSHING STOCKS +1.46M TO 35.5M BARRELS IN MAY 12 WK
  • US EIA: SPR -2.43M TO 359.6M BARRELS IN MAY 12 WK
  • US EIA: REFINERY UTILIZATION WEEK CHANGE +1% TO 92.0% IN MAY 12 WK

WHITE HOUSE: Biden To Speak On Debt Ceiling At 1045ET

May-17 14:29

White House officials have confirmed that President Joe Biden will deliver remarks on the debt ceiling at 1045ET (1545BST/1645CET). Link to livestream can be found here: https://www.youtube.com/watch?v=dKn76fhRI38

  • The comments come amid fevered efforts to avoid a federal default. Yesterday Biden met with House Speaker Kevin McCarthy (R-CA) and other senior congressional officials to seek some form of progress on the issue.
  • Today, Senate majority leader Chuck Schumer (D-NY) is meeting with the CEOs of major banks to talk about the issue, and House minority leader Hakeem Jeffries (D-NY) files a discharge petition to seek to avoid a default.
  • For the latest updates and analysis on the debt ceiling talks and other major US political risk coverage, see our US Daily Brief: https://marketnews.com/mni-political-risk-analysis...