OIL: Trump/Putin Call Set To See Peace Talks Start, Impacting Crude/TTF

Unsurprising rhetoric from ECB hawk Holzmann this morning, speaking at a Euromoney conference in Vienna:

• "ECB'S HOLZMANN: DON'T THINK WE CAN LOWER RATES TOO QUICKLY, CORE INFLATION IS STILL CLOSER TO 3% THAN 2%" RTRS
• "*ECB'S HOLZMANN: HAVE A LOT OF CHALLENGES ON ENERGY" bbg
• "*ECB'S HOLZMANN: HOPE TO MEET 2% INFLATION TARGET BY YEAR-END" bbg

Holzmann expressed some concerns around energy prices in an interview with Kurier on Dec 28: “It could be the case that we take more time before lowering rates again,”...“It’s true, some energy prices are trending upwards again. But there are also other scenarios for how inflation could return, such as a stronger depreciation of the euro.”

ERM5 97.625/97.75/97.875c fly vs 97.4375/97.3125ps, bought the fly for 0.25 and half in 9k.

• Guidance: MS+107bps area
• Size: Benchmark (MNI expects E3-4bln)
• Maturity: 15 June 2035
• Settlement: 21 January, 2025 (T+5)
• ISIN: GR0124041758

Via Bloomberg / market source