OIL: US AUG UNEMPLOYMENT RATE 4.324%

SX5E (15th Aug) 5300, bought the Put for 10.7 and 10.8 in 10k (100% Del).

• Date $MM Issuer (Priced *, Launch #)
• 08/06 $Benchmark BMW US 2Y +80a, 2Y SOFR, 5Y +105a, 10Y +125a
• 08/06 $Benchmark Oneok 7Y +130a, 10Y +140a, 30Y +175a
• 08/06 $Benchmark PetSmart 7NC3, 8NC3 investor calls
• $9.9B Priced Tuesday, $27.575B/wk

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• President Donald Trump will make an “announcement” at the White House at 16:30 ET 21:30 BST. The subject is unclear, but it could be related to new measures against Russia or open Fed/BLS positions.
• Swiss President Karin Keller-Sutter will meet Secretary of State Marco Rubio today to present an “attractive offer” to avert a 39% tariff rate. The absence of meetings with Trump or senior trade officials suggests Switzerland may struggle to secure a deal.   
• The US trade deficit shrank in June to its lowest level in nearly two years.
• Within the next week, Trump will announce pharmaceutical tariffs that could rise to 250%. Trump is also expected to announce new tariffs on semiconductors.  
• Trump has whittled down potential Fed nominees to a shortlist of four.
• Trump appears to be inching closer to approving a 90-day tariff and export control pause with China.
• Canadian ministers met Mexican President Claudia Sheinbaum yesterday to bolster ties ahead of next year’s USMCA review.
• Brazil's Finance Minister will speak with Treasury Secretary Scott Bessent next week.
• Trump is preparing an executive order to punish banks that discriminate against conservatives.
• Trump negotiator Steve Witkoff met Russian President Vladimir Putin ahead of Trump's deadline for reaching a ceasefire agreement with Ukraine.
• Trump said a decision to occupy Gaza is “pretty much up to Israel”.
• Poll of the Day: Friday’s disappointing jobs report appears to be resonating with Americans. 

Full Article: US DAILY BRIEF