AMERICAS OIL: WTI Crude is higher on the day amidst a weaker dollar

A new survey from CBS has found that most Americans describe Trump as "tough," "energetic," "focused" and "effective" — and believe he is “doing what he'd promised during his campaign…”

• CBS notes: “Many say he's doing more than they expected — and of those who say this, most like what they see. Very few think he's doing less."
• CBS adds: “His partisans and his voters, in particular, say he's got the right amount of focus on matters like ending diversity, equity and inclusion programs and deporting those who are in the country illegally. His deportation policy finds majority approval overall — just as most voters said they wanted during the campaign — and that extends to sending troops to the border, too."
• The report warns: “But one key issue looms: Most Americans say the administration isn't focused enough on lowering prices. Inflation was a key reason Mr. Trump won the election.”

Figure 1: “Describe Donald Trump as…?” 

Source: CBS

RRP usage inches up to $99.653B this afternoon from Friday's $95.248B - compares to last Wednesday's $78.788B -- lowest level since mid-April 2021. The number of counterparties rebounds to 41 from 33 prior.

Tsy quarterly futures roll from March'25 to June'25 gets underway today with decent volume in 5s. Percentage complete remains low, less than 2% across the curve ahead the "First Notice" date on February 28. Current roll details:

• TUH5/TUM5 appr 2,000 from -6.0 to -5.5, -5.75 last
• FVH5/FVM5 appr 84,700 from -3.25 to -2.75, -2.75 last
• TYH5/TYM5 appr 6,700 from -0.25 to +0.25, +0.0 last
• UXYH5/UXYM5 less than 300 from 4.5 to 4.75, 4.75 last
• USH5/USM5 appr 500 from 4.75 to 5.75, 5.25 last
• WNH5/WNM5 less than 100 from 3.5 to 4.5, 4.25 last
• Reminder, March futures won't expire until next month: 10s, 30s and Ultras on March 20, 2s and 5s on March 31. March Tsy options expire February 21.