US DATA: UMichigan Sentiment May Have Bottomed At Low Levels, Inflation Key
The University of Michigan's final June report showed slightly better consumer sentiment and expecta...
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SONIA OPTIONS: SFIM6 96.10/96.00 Put Spread Lifted
SFIM6 96.10/96.00 put spread paper paid 0.75 on 10K
CROSS ASSET: USDJPY Edges Higher as White House Deem Leaked MoU a "Fabrication"
"*WHITE HOUSE: MOU REPORTED ON BY IRAN MEDIA IS FABRICATION" - bbg
- Markets proving sensitive to that headline from the White House - it stems from their Rapid Response X account, and is broadly inline with the NY Post journalist tweet from just a few minutes ago.
- USDJPY rallies toward the earlier high of 159.45 and looks to be holding the move, but equities much more resilient - e-mini S&P still well off the post-cash open pullback low of 7525.50.
IRAN: White House 'Rapid Response' Account Denies Iran MoU
The White House's official 'rapid response' account on X "This report from Iranian controlled media is not true and the MOU they “released” is a complete fabrication. Nobody should believe what Iranian state media is putting out. FACTS MATTER". The WH rapid response account was established in early 2025, and has been used as a tool to counter what it deems to be 'fake news' stories. The initial reports of this supposed MoU emerged from state-run Islamic Republic of Iran Broadcasting (IRIB). The IRIB report has been widely circulated, and with President Donald Trump convening a cabinet meeting later today (11:00ET/16:00BST), expctation of an announcement or movement on the issue of a framework or peace deal has been high.
