TECHNOLOGY: ASML Curve Up To 4bp Tighter Post Earnings
Jan-29 15:34
ASML A2[P]/A+ ASML is moving in the right direction for the Moody's upgrade though we think they wa...
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US: Trump Says Speaker Johnson Has His 'Total Endorsement'
Dec-30 15:34
US President-elect Donald Trump has issued a lengthy statement on his Truth Social site endorsing House Speaker Mike Johnson (R-LA) ahead of the January 3 speaker vote on the floor of the House of Representatives.
- Trump: "Speaker Mike Johnson is a good, hard working, religious man. He will do the right thing, and we will continue to WIN. Mike has my Complete & Total Endorsement. MAGA!!!"
- The statement comes after a damaging two-week period - starting in late December - when Trump and advisor Elon Musk torpedoed a Johnson-backed plan to fund the federal government. This week, a public spat over H-1B work visas has deepened fissures between the 'Silicon Valley' faction of the GOP, led by Musk, and the conservative 'America First' bloc of Trump's MAGA movement, raising concerns that a collapse of the GOP coalition could derail Trump's agenda.
- Trump's statement appears designed to patch up the rift ahead of the speaker vote, which will kickstart a challenging 100-day period when Trump needs near-unanimous support from House Republicans to pass a reconciliation package that will include immigration and energy legislation and likely a measure to suspend the federal debt ceiling.
- Rep Thomas Massie (R-KY) has stated he will vote 'no' on Johnson with Rep Victoria Spartz (R-IN) leaning towards 'no'. Assuming all Democrats are present and vote 'no', four dissenting Republican votes will sink Johnson's bid and force another speaker ballot.
- Chad Pergram at Fox News has a useful explainer on the implications of the speaker vote here.
GILT AUCTION PREVIEW: On offer next week
Dec-30 15:32
The DMO has announced it will be looking to sell GBP4.25bln of the new 4.375% Mar-30 Gilt (ISIN: GB00BSQNRD01) at its auction next Wednesday, January 8.
STIR: BLOCK: Jun'25 SOFR Call Spreads vs. Puts
Dec-30 15:09
- 15,000 SFRM5 96.125/96.62 call spds 4.5 over SFRM5 95.56 puts vs. 95.945/0.36% crossed at 1004:08ET
