US: Copper Prices Spike and Then Reverse as Trump Announces 50% Tariff
Jul-08 17:04
"*TRUMP SAYS IMPOSING 50% TARIFF ON COPPER" -bbg
"ANNOUNCING COPPER TARIFF TODAY" -bbg
Copper futures initially spike on the news although quickly reverse as the markjet anticipates the higher price for the US consumer. In simialr vein, USDCLP initially lower on the headline but now reversing.
US TSYS/SUPPLY: Review 3Y Note Auction: Small Tail
Jul-08 17:04
Treasury futures remain weaker, little react after $58B 3Y note auction (91282CNM9) tailed again: drawing 3.891% high yield vs. 3.887% WI; 2.51x bid-to-cover vs. 2.52x prior.
Peripheral stats see indirect take-up retreated to 54.11% vs. 66.78% prior; direct bidder take-up climbed to 29.38% from 18.03% prior; primary dealer take-up 16.51% vs. 15.19% prior.
FED: US TSY 3Y NOTE AUCTION: HIGH YLD 3.891%; ALLOTMENT 19.35%
Jul-08 17:02
US TSY 3Y NOTE AUCTION: HIGH YLD 3.891%; ALLOTMENT 19.35%
US TSY 3Y NOTE AUCTION: DEALERS TAKE 16.51% OF COMPETITIVES
US TSY 3Y NOTE AUCTION: DIRECTS TAKE 29.38% OF COMPETITIVES
US TSY 3Y NOTE AUCTION: INDIRECTS TAKE 54.11% OF COMPETITIVES