US-RUSSIA: Rubio-Lavrov Meeting Underway In New York

Latest Tsy quarterly futures roll volumes from September'25 to December'25 below. Percentage complete currently at or near 50%. "First Notice" date next week Friday, August 29. Current roll details:

• TUU5/TUZ5 appr 902,100 from -8.88 to -8.5, -8.62 last; 49% complete
• FVU5/FVZ5 appr 962,400 from -5.25 to -5.0, -5.25 last; 45% complete
• TYU5/TYZ5 appr 760,100 from -1.25 to -0.75, -1.0 last; 43% complete
• UXYU5/UXYZ5 app 997,700 from -0.5 to +0.25, -0.25 last; 47% complete
• USU5/USZ5 appr 477,900 from 12.25 to 13.0, 12.25 last; 50% complete
• WNU5/WNZ5 appr 550,600 from 7.25 to 8.0, 7.25 last; 50% complete
• Reminder, Sep futures don't expire until next month: 10s, 30s and Ultras on September 22, 2s and 5s on September 30. Meanwhile, Sep'25 Tsy options will expire LAST Friday, August 22.

• Stocks are holding near steady (SPX eminis) to mixed ahead midday Monday, the DJIA underperforming as markets (rates, currency and equities) gradually unwound a portion of Friday's post-Chair Powell related rally.
• After climbing to new record high last Friday (45,757.84), the DJIA trades currently down down 236.08 points (-0.52%) at 45394.98, S&P E-Minis Future down 4.75 points (-0.07%) at 6478.75, Nasdaq up 64.6 points (0.3%) at 21561.27.
• Consumer Staples and Health Care sectors underperformed in the first half, highlight laggers in staples included: Keurig Dr Pepper -7.93%, Constellation Brands -3.47%, Estee Lauder -2.47%, Conagra Brands -2.19% and McCormick & Co -2.16%. Pharmaceutical stocks weighed on the Health Care sector: Dexcom -5.70%, Moderna -4.72%, Pfizer -2.16% and Align Technology -2.10%.
• On the positive side, tech stocks led gainers in the first half: Seagate Technology Holdings +3.49%, Western Digital +3.14%, Super Micro Computer +1.98% and NVIDIA +1.79% (Nvidia reports after Wednesday's close). Interactive media and entertainment shares were buoyed: Netflix +1.96%, Alphabet +1.44%, Electronic Arts +1.08%.

The MEF will sell the following at it's 5/10-year BTP /  CCTeu auction on Thursday 28 August:

• E2.00-2.75bln of the 2.70% Oct-30 BTP (ISIN: IT0005654642)
• E1.00-1.25bln of the 3.65% Aug-35 BTP (ISIN: IT0005631590)
• E1.75-2.00bln of the 3.60% Oct-35 BTP (ISIN: IT0005648149)
• E1.50-2.00bln of the 1.05% Apr-34 CCTeu (ISIN: IT0005652828)