Chairing a meeting of the permanent National Security Council, President Vladimir Putin says that US President Donald Trump's comments regarding the US resuming nuclear testing are "a serious issue". Says Russia "has always strictly observed its obligations under the Comprehensive Nuclear-Test-Ban Treaty and will continue to do so," but also asked departments "to submit proposals on the possibility of preparing for nuclear weapons tests". Says that Russia will "have to take retaliatory action" if other countries engage in nuclear tests.
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Late on Friday J.P.Morgan turned bullish on front end swap spreads for several reasons:
Gilts continue to hold onto the bulk of the weakness linked to the political situation in Japan and France.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA (bp) |
Nov-25 | 3.960 | -0.7 |
Dec-25 | 3.915 | -5.2 |
Feb-26 | 3.809 | -15.9 |
Mar-26 | 3.779 | -18.8 |
Apr-26 | 3.703 | -26.5 |
Jun-26 | 3.678 | -28.9 |
Jul-26 | 3.628 | -33.9 |
Sep-26 | 3.615 | -35.3 |
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