SECURITY: Von Der Leyen Says Next Russia Sanctions To Hit Russian Finance Sector

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The US State Department confirmed that Secretary of State Marco Rubio and President Donald Trump's Middle East Envoy Steve Witkoff will travel to Paris today for Ukraine meetings with European counterparts. 

• Statement: "[Rubio] and [Witkoff] will travel to Paris, France, April 16-18 for talks with European counterparts to advance President Trump’s goal to end the Russia-Ukraine war and stop the bloodshed. While in Paris, he will also discuss ways to advance shared interests in the region."
• The meeting appears to acknowledge that Trump's attempt to unilaterally negotiate ceasefire terms with Kyiv and Moscow has hit a wall. The Paris meeting, the first time Europe has been formally included in Washington's ceasefire process, comes after NATO Secretary General Mark Rutte declared "unwavering" support for Ukraine during a surprise visit to Odesa yesterday and Ukrainian, British, French and Turkish representatives met in Turkey to discuss Black Sea security - two signs that Ukraine's allies intend to maintain military and diplomatic support for Kyiv.
• Bloomberg reported today that the US "appears to have tempered its demands for the payback of aid by Ukraine", noting the administration "has reduced its estimate for the assistance the US provided to Kyiv ... from $300 billion to about $100 billion... closer to Ukraine’s own estimate of more than $90 billion."
• Sky News reports "Kyiv and Washington have made "substantial progress" in talks to sign a minerals deal, noting that Ukraine's first deputy prime minister said that the deal "was well on the way to being signed."

• Treasury futures see-sawing inside overnight range, two-way trade after near-in-line expected Retail Sales, prior ex-auto up-revised, lower Control Group vs. up-revised prior.
• Tsy Jun'25 10Y futures currently trades 111-00 (-2.5) -- inside technicals: resistance above 111-09+ (Intraday high), initial support at 110-15+/109-08 (Low Apr 14 / 11 and the bear trigger).
• Curves twist steeper: 2s10s currently +1.931 at 50.515, 5s30s +2.561 at 81.600.
• Cross asset: Stocks hold modestly lower (SPX eminis -40 at 5388.25), new highs for Gold trades 3316.0, Bbg US$ index falling to 1229.24 (-5.08).
• Next up at 0915ET: Industrial Production & Capacity Utilization