CEE FX: Sell-Off Fades as Equities Recover From Earlier Lows
Jun-13 15:42
- As noted above, the fade in the USD Index from this morning's highs - combined with the recovery for equities - has allowed CEE FX to recoup the majority of their earlier losses given that the fallout from the Israel strikes on Iran appears to be mainly contained within oil markets. USD/CE3 pairs remain as much as 0.4% higher but are well off earlier highs. Similarly, USDZAR has trimmed gains to just 0.7%.
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US: White House Publishes Fact Sheet On $1.2T Qatar Deal
May-14 15:42
The White House has published a fact sheet claiming that US President Donald Trump has signed an "agreement with Qatar to generate an economic exchange worth at least $1.2 trillion." The announcement is the second major investment deal of Trump's Middle East trip, following a deal with Saudi Arabia yesterday worth $600B, per the White House.
- The White House notes that the Qatar agreement includes separate deals, "totaling more than $243.5 billion between the United States and Qatar, including an historic sale of Boeing aircraft and GE Aerospace engines to Qatar Airways."
- Like the Saudi deal, the Qatar agreement includes defence contracts aimed at "enhancing regional deterrence and benefitting the U.S. industrial base."
- The Qatar deal is likely to be met with some sceptiscm from analysts, who have pointed at similar prelimary investment agreements struck during Trump's first term that failed to materialise.
- Axios notes on yesterday's Saudi deal: “An itemized list provided by the White House doesn't come close to $600 billion. It works out to $282.8 billion — nearly 30% of which involves private-sector tech investments "in both countries." The remainder seems to fall under the unenumerated umbrella of "many other deals,"
FED: US TSY 17W BILL AUCTION: HIGH 4.240%(ALLOT 92.41%)
May-14 15:32
- US TSY 17W BILL AUCTION: HIGH 4.240%(ALLOT 92.41%)
- US TSY 17W BILL AUCTION: DEALERS TAKE 34.43% OF COMPETITIVES
- US TSY 17W BILL AUCTION: DIRECTS TAKE 4.51% OF COMPETITIVES
- US TSY 17W BILL AUCTION: INDIRECTS TAKE 61.06% OF COMPETITIVES
- US TSY 17W BILL AUCTION: BID/CVR 3.28
US TSY FUTURES: BLOCK, Jun'25 5Y Sale
May-14 15:21
- -5,000 FVM5 107-13.5, sell through 107-13.75 post time bid at 1114:16ET, DV01 $320,000.
- The 5Y contract trades 107-13 last (-2.75).
