LATAM: Week Ahead – Banxico Rates, BCB Minutes/QIR, BCCh Minutes
* Mexico: The local calendar is busier next week, with July retail sales and economic activity, an...
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US TSY FUTURES: Extending Highs
- Mirroring late support in German Bund, Treasury futures continue to extend highs in late morning trade, weaker stocks (SPX eminis at 6377.5 -55.0) contributing to the move.
- Tsy Sep 10Y contract +7 at 111-31.5 session high, initial technical resistance at 112-15.5 (High Aug 5 and the bull trigger).
- Curves have reversed early flattening to steeper: 2s10s +.237 at 55.847, 5s30s +1.491 at 109.733.
- Focus on this afternoon's July FOMC minutes release at 1400ET.
OPTIONS: Expiries for Aug21 NY cut 1000ET (Source DTCC)
- EUR/USD: $1.1600(E1.4bln), $1.1625-30(E629mln), $1.1650-70(E1.4bln), $1.1700(E1.6bln), $1.1750(E2.0bln), $1.1800(E3.0bln)
- USD/JPY: Y145.95-00($1.2bln), Y146.70-80($1.8bln), Y151.00($2.5bln)
- AUD/USD: $0.6590-00(A$1.8bln)
- NZD/USD: $0.5975-80(N$820mln)
- USD/CAD: C$1.3775($580mln), C$1.3820($625mln)
US: Trump Considering Firing Fed's Cook for Cause, According to Sources
"*TRUMP CONSIDERING FIRING LISA COOK FOR CAUSE: WSJ" - bbg
"President Trump has told aides he is considering attempting to fire a Biden-appointed Federal Reserve governor after one of his housing officials accused her of mortgage fraud, according to a senior White House official and another person familiar with the matter.
"The Justice Department is probing similar fraud claims against two of the president's most vocal Democratic critics, opening investigations into New York Attorney General Letitia James and Sen. Adam Schiff of California. Attorney General Pam Bondi authorized Ed Martin, head of a working group tasked with reviewing cases against Trump, to use grand juries in Virginia and Maryland to probe separate allegations of mortgage fraud involving Schiff and James, according to a person familiar with the matter."
