EMISSIONS: UBA Warns Greater Burden and Risks On CBAM Extension
Sep-10 13:51
{EU}{Expanding the EU’s CBAM to cover further downstream products could sharply raise compliance costs for importers and the risk of retaliation from other countries, according to UBA.
- Estimating embedded emissions becomes increasingly difficult the further downstream a product is situated.
- UBA suggested that the EC to assess the net benefit of CBAM extension after considering the expected additional administrative costs.
- It also urged to consider the risk of retaliation from other countries following the CBAM extension.
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SOFR: Steepener Flow
Aug-11 13:41
Recent steepener interest in SOFR spreads:
- SFRH6/Z6 paper paid -43.0 on 9K.
- SFRH6/U6 paper paid -36.0 on ~5.5K
BONDS: MNI Europe Pi: German Longs At Shorter End
Aug-11 13:40
We've just published our latest Europe Pi positioning analysis - Download Full Document Here
- Futures representing the shorter end of the German curve and BTPs remain in the longest structural positioning in Europe Pi, with flat/short positioning seen elsewhere since our previous update on Jul 23.
- Last week's trade was indicative of very mixed positioning, with both shorts and longs set in some contracts, as well as some longs reduced.
US TSY OPTIONS: TY Week 2 111.50 Puts Lifted
Aug-11 13:38
TY week 2 (exp 8/13) 111.50 puts paper paid 0-07 on 12K.
