OIL PRODUCTS: Asia Set for Light Cracker Maintenance in 2025: Kpler
Feb-20 13:58
Overall Asian cracker maintenance is set to be light this year, Kpler said, impacting naphtha demand...
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US TSY FUTURES: TU Blocked
Jan-21 13:57
Latest block trade lodged at 08:49:14 NY/13:49:14 London:
- TUH5 7.0K lots blocked at 102-24.625, looks like a buyer.
- DV01 ~$266K.
EQUITIES: Couple of German Banks Option trade
Jan-21 13:53
Commerzbank:
- CBK (21st Feb) 17/15.8ps, bought for 0.18 in 4k.
Deutsche Bank
- DBK (19th Dec) 13p, bought for 0.40 and 0.41 in 5k.
ECB: Nagel Characteristically Cautious, But Appears To Back A Jan Cut
Jan-21 13:51
Characteristically cautious signals from Bundesbank President Nagel, who notes a “certain probability” of a cut in January in an interview with Bloomberg. Signals beyond the January decision were limited, with Nagel expressing a preference for the ECB to maintain its “meeting-by-meeting” approach through the first half of 2025.
- His comments on inflation appear consistent with prior interviews. He sees inflation close to the 2% target by the middle of next year - a view already highlighted in an interview with the FT on December 4.
- Nagel has previously expressed worries around sticky services inflation. While this was echoed in the latest remarks, he concedes that moderating wage growth should drive some further disinflation in the coming months.
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