ECB: Schnabel Provides Unsurprisingly Hawkish Views On Inflation
Nov-12 11:08
Comments crossing from ECB Executive Board member Schnabel via Bloomberg
""*ECB'S SCHNABEL: INFLATION RISKS TILTED A LITTLE BIT TO UPSIDE" bbg
This isn't a new, or surprising view from the Governing Council's resident hawk. She said that risks to inflation were tilted to the upside on September 2. Food prices were cited as one reason for this view back then.
Other headlines to note:
- "*ECB'S SCHNABEL: FOOD-PRICE INFLATION STILL PRETTY STRONG" bbg
- "*ECB'S SCHNABEL: INFLATION RISKS TILTED A LITTLE BIT TO UPSIDE" bbg
- "*ECB'S SCHNABEL: MAIN FOCUS SHOULD BE ON CORE INFLATION" bbg
- "*ECB'S SCHNABEL: NOT SEEING SUSTAINED DISINFLATIONARY PRESSURES" bbg
- "*ECB'S SCHNABEL: INTEREST RATES ARE `ABSOLUTELY' IN A GOOD PLACE" bbg
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Historical bullets
EURIBOR OPTIONS: Call calendar spread
Oct-13 11:05
ERH6 98.25c sold at 2.5 in 8k vs 2RH6 97.93c bought for 9.5 in 8k.
EQUITY OPTIONS: Large Aston Martin Option
Oct-13 10:52
More large downside Option in Aston Martin.
- AML (19th June) 46p, bought for 3 in ~21.7k
Last Week saw:
- ALM (19th Dec) 68/58ps, bought for 4.5 in 100k.
US TSYS: Cash Closed For Columbus Day, On Headline Watch
Oct-13 10:51
- Treasury futures have modestly pulled back off highs seen at Friday’s close after President Trump threatened new 100% tariffs on China and the imposition of its own export controls on “any and all critical software” on Nov 1 following China’s earlier export curbs on its rare earth metals.
- The threats were subsequently somewhat downplayed over the weekend, prompting this paring of moves, but Treasuries remain firmer on net.
- Cash markets are closed today for the Columbus Day holiday but with a full session for Globex.
- The holiday likely limits volumes later on and Trump flies back from the Middle East. Focus will be on any further US-China headlines plus a mention for Philly Fed’s Paulson, albeit overshadowed by Powell’s NABE appearance tomorrow.
- TYZ5 trades at 113-01+ (-03) on cumulative volumes of 265k, higher than some recent overnight sessions but still on the low side.
- Friday saw a high of 113-09, opening 113-12 (Sep 18 high) after which lies the bull trigger at 113-29 (Sep 11 high). Support meanwhile is seen at 112-14 (50-day EMA).
- Data: None scheduled
- Fedspeak: Paulson (1255ET) – see STIR bullet
- No issuance
- Politics: Trump in Middle East Peace Ceremony, Egypt (0730ET), Trump departs Egypt en route to The White House (1000ET with travel pool).
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