EM LATAM CREDIT: "MS Forecasts New Issue Argentina USD Benchmark by Mid-Year
"MORGAN STANLEY SEES ARGENTINA TAPPING DEBT MARKETS BY MID-YEAR" - BBG ARGENT 4.125% 2035, $68.20, +...
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OPTIONS: Expiries for Dec31 NY cut 1000ET (Source DTCC)
EUR/USD: $1.0525(E525mln)
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Larger FX Option Pipeline
EUR/USD: Jan02 $1.0400(E1.5bln), $1.0500(E1.2bln)
USD/JPY: Jan02 Y154.30($2.1bln)
AUD/USD: Jan02 $0.6400-20(A$1.1bln)
USD/CAD: Jan02 C$1.3905($1.2bln); Jan03 C$1.4220($1.5bln)
USD/CNY: Jan02 Cny7.0800($1.7bln)
GILT AUCTION PREVIEW: On offer next week
The DMO has additionally announced it will be looking to sell GBP2.25bln of the 4.375% Jul-54 Gilt (ISIN: GB00BPSNBB36) at its auction next Tuesday, January 7.
US: Trump Says Speaker Johnson Has His 'Total Endorsement'
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.
