SECURITY: France/Estonia To Host Third Meeting To Discuss EU Support For UKR
Feb-21 16:38
Bloomberg reporting that France and Estonia will host a meeting of European defence ministers on Monday to discuss bolstering support for Ukraine. The video conference is expected to include representatives from the United Kingdom, Germany, Italy, Poland, and the European Union.
- The meeting will be the third summit of Ukraine's partners in a week, following a move by the Trump administration to restore diplomatic relations with Russia and prod Kyiv toward a negotiated peace settlement.
- Bloomberg notes: “The defense ministers’ meeting will coincide with a trip to Kyiv — three years after Russia invaded Ukraine — by several European leaders, among them the European Commission President Ursula von der Leyen. EU foreign ministers will also meet in Brussels on Monday."
- French President Emmanuel Macron will meet bilaterally with US President Donald Trump at the White House on Monday. UK Prime Minister Keir Starmer is expected to meet with Trump at the White House on Thursday.
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FED: US TSY 17W BILL AUCTION: HIGH 4.205%(ALLOT 78.60%)
Jan-22 16:32
- US TSY 17W BILL AUCTION: HIGH 4.205%(ALLOT 78.60%)
- US TSY 17W BILL AUCTION: DEALERS TAKE 35.29% OF COMPETITIVES
- US TSY 17W BILL AUCTION: DIRECTS TAKE 4.22% OF COMPETITIVES
- US TSY 17W BILL AUCTION: INDIRECTS TAKE 60.49% OF COMPETITIVES
- US TSY 17W BILL AUCTION: BID/CVR 3.28
FED: US TSY 33D AUCTION: HIGH RATE 4.265%; 52.91% AT HIGH
Jan-22 16:32
- US TSY 33D AUCTION: HIGH RATE 4.265%; 52.91% AT HIGH
- US TSY 33D BILL AUCTION: DEALERS TAKE 49.22% OF COMPETITIVES
- US TSY 33D BILL AUCTION: DIRECTS TAKE 5.03% OF COMPETITIVES
- US TSY 33D BILL AUCTION: INDIRECTS TAKE 45.76% OF COMPETITIVES
- US TSY 33D AUCTION: BID/COVER 2.70
USD: Trump Tariff Threat On Russia Adds To USD Bid
Jan-22 16:24
Trump’s tariff threat towards Russia seems to promote some USD demand over the last 30 minutes or so, although the BBDXY was already off session lows ahead of Trump’s social media post.
- The greenback now outperforms all but the NOK in G10 FX trade, with the likes of GBP/USD & EUR/USD back into yesterday’s range after a brief show above.
- JPY is weaker against all G10 peers, with the uptick in core global FI yields also weighing on the yen in recent trade.
- The technical setup in that pair remains bullish, with initial resistance at the 20-day EMA (156.46) pierced. A clean break and extension there would shift focus to the January 15 high (158.08).
- BoJ event risk on the horizon for JPY pairs (expect our full preview of that decision in Asia-Pac hours. Most look for a 25bp hike on Friday, with ~24bp of tightening discounted).
