ARGENTINA: Caputo Says IMF Working On Final Details For Loan, Dec Wages Due
Feb-12 14:36
- Economy Minister Caputo said in an interview yesterday that the IMF is impressed by the government’s achievements and is working on the final details of a support agreement. He added that the IMF wants Argentina to do well. Last week, Caputo said that a future agreement with the IMF would not mean an immediate exit from currency controls. He also said then that the IMF was expected to give an update on the negotiations at its upcoming bi-monthly press conference.
- Later today INDEC will publish data for wages in December at 1900GMT(1400ET). In November, wages rose by 3.8% m/m, following a 4.6% gain the month before. Following these data, January CPI figures are due tomorrow, where analysts see a further moderation in monthly inflation to 2.3% m/m, from 2.7%. Analysts see it monthly CPI dropping to 1.6% m/m by July, according to the BCRA.
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EQUITIES: US Opening calls
Jan-13 14:25
US Cash open is set for a steady, stable start with futures mostly trading in a holding pattern for the past 2hours ahead of a very busy Week.
- Calls: SPX: 5,791.0 (-0.6%); DJIA: 41,917 (-0.1%/-22pts); NDX: 20,645.5 (-1.0%).
STIR: More SOFR Put Trade
Jan-13 14:14
Better put flow continues even as underlying futures pare losses. Note large Jun'25 strangle buyer:
- 5,000 SFRJ5 95.50/95.56 put spds ref 95.83
- +10,000 SFRM5 95.56/96.12 strangle, 12.00 ref 95.83
- -10,000 SFRU5 95.37/95.56 put spds vs 5,000 SFRM5 95.62/95.87 put spds, 5.75-6
- -15,000 SFRU5 95.18/95.43 put spds v SFRZ5 95.87/96.06 put spds, 7.5-7.25
- -4,000 SFRZ5 95.18 puts 0.5 over 96.12/96.62 call spds vs 95.88/0.38%
- +4,000 SFRZ5 95.25 puts, 13.5 vs. 95.88/0.25%
SLOVAKIA AUCTION PREVIEW: On offer next week
Jan-13 14:08
ARDAL has announced it will be looking to sell the following SlovGBs at its auction next Monday, January 20:
- the 3.00% Feb-28 SlovGB (ISIN: SK4000024683)
- the 3.625% Jun-33 SlovGB (ISIN: SK4000023230)
- the 3.75% Mar-34 SlovGB (ISIN: SK4000024865)
- the 4.00% Feb-43 SlovGB (ISIN: SK4000022547)
