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SUN: OPEC+MON: Holiday: UK May Bank Holiday, Holiday: Japan's Greenery Day, Turkish Inflation (Apr), Global Manufacturing PMI (Apr), US Factory Orders (Mar)TUE: RBA Policy Announcement (May), BCB Minutes (Apr), Holiday: Japan's Children's Day, Swiss Inflation (Apr), US Building Permits Final (Mar), Canadian Balance of Trade (Mar), Canadian PMI (Apr), US PMI Final (Apr), US ISM Services (Apr), US JOLTS (Mar), US New Home Sales (Mar), US RCM/TIPP Economic Optimism (May), New Zealand Unemployment Rate (Q1)WED: ECB Wage Tracker (May), Holiday: Japan's Constitution Memorial Day, South Korean Inflation Rate (Apr), Chinese RatingDog PMI (Apr), Swedish Inflation (Apr), EU PMI Final (Apr),...
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SNAPSHOT: Equities up, Treasuries flatten, Crude down, Dollar up, Gold flatREAR VIEW: Trump not satisfied with the latest proposal from Iran; Trump said EU is not complying with trade deal and he will increase tariffs to 25% next week on EU cars and truck imports into the US; US ISM Mfg. PMI misses & prices jump; BoJ data confirms FX intervention; AAPL beats, rev. guide topped; Memory names beat; Fed's Logan, Hammack, and Kashkari explain dissent on easing language bias in statement.COMING UP: Holiday: UK May Bank Holiday, Japan's Greenery Day. Data: Turkish Inflation (Apr), Global Manufacturing PMI (Apr), US...
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Treasuries were little changed on the session, with the curve slightly flattening as front-end yields marginally underperformed. At settlement, 2-year +2.1bps at 3.888%, 3-year +1.9bps at 3.910%, 5-year +1.5bps at 4.021%, 7-year +1.1bps at 4.198%, 10-year +0.4bps at 4.378%, 20-year -0.2bps at 4.956%, 30-year -0.1bps at 4.965%. settlement,
THE DAY: T-notes largely meandered overnight before catching a bid in the US morning on reports that Iran had sent a revised proposal via Pakistan to the US. The headlines weighed on crude prices, lifting Treasuries to session highs. However, the move reversed as subsequent reports suggested nuclear issues would not be addressed...
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The dollar erased early-session losses from lower crude prices, as US President Trump threatened the EU with 25% tariffs on their trucks and cars (prev. 15%), claiming they're not complying with the previously agreed trade deal. Helping the rebound into the green, Trump also expressed that he is not satisfied with the latest proposal from Iran. Despite crude prices getting lower, the dollar was generally firmer, perhaps amid the 2yr yield reversing initial downside. Possibly behind the move was the collection of all the Fed dissents on the easing bias language within the statement. Logan, Hammack, and Kashkari, all 2026 voters, cited increased uncertainty, upside risks to inflation,...
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The crude complex ended the day with losses, as Tehran submitting a new proposal weighed. Prior to this, WTI and Brent hit peaks of USD 106.65/bbl and 112.45, respectively, as oil prices were elevated heading into a weekend of geopolitical risk. Following this, risk tone improved, and benchmarks fell as Axios' Ravid said Iran delivered on Thursday to the US through the Pakistani mediators its response to the latest US amendments on the agreement to end the war. However, sources "added nuclear negotiations will not succeed under these circumstances, and the focus will likely be on ending the war." Nonetheless,...
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"On April 7, 2026, I ordered a two-week ceasefire. The ceasefire has since been extended. There has been no exchange of fire between the United States Forces and Iran since April 7, 2026. The hostilities that began on February 28, 2026, have terminated," Trump wrote in the letters, one of which went to the House and one of which went to the Senate."Despite the success of United States operations against the Iranian regime and continued efforts to secure a lasting peace, the threat posed by Iran to the United States and our Armed Forces remains significant," the president added in...
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Will keep options open to protect EU interests if the US takes measures inconsistent with trade deal.(Market Source)
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Iran softens conditions for resuming peace talks with the US - Title of WSJ article.The new proposal then calls for discussing the issues around Iran's nuclear file in exchange for US sanctions relief, sources said.Iran has indicated to mediators that it would be ready to sit down for talks in Pakistan by early next week if Washington is open to the new proposal, sources said.(WSJ)
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CISA proposal would see deadlines to fix cyber weaknesses fall from two weeks to three days(Market Source)
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Latest move just shows how unreliable US is.No way to treat close partners.(Market Source)
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Iran wants a deal, but i am not satisfied.Iran has no military left.Talks with Iran are by phone.Made strides in talks with Iran.Not sure we are going to get to a deal.Not happy with Italy or Spain on Iran.Iran leaders do not get along with each other.I am not happy.Just had conversation with Iran. Lets see what happens.Hormuz Strait is 100% shut down.Iran negotiations are not getting there right now.When asked about potential Iran strikes, says: "Why would I tell you?"On Iran options, either blast them away or make a deal.Blockade has been unbelievable, powerful.If we left right now, we...
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Full Post: "Iran is the head of the snake for global terrorism, and under @POTUS ’ leadership, Treasury is moving aggressively, through Economic Fury, to sever the Iranian military’s financial lifelines. We will relentlessly target the regime’s ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran’s attempts to evade sanctions."
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EO broadens existing US sanctions against cuba. Accuses Cuba of maintaining close ties with Iran and providing safe haven to militant groups such as Hezbollah. Authorises secondary sanctions for conducting or facilitating transactions with those targeted under the order.
(DB News)
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Iranian armed forces are also fully alert and ready to comprehensively and decisively defend the Iranian nation against any threat or evil.(Telegram)
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S&P 500Norwegian Cruise Line Holdings Ltd. (NCLH) EPS (exp. 0.14), Revenue (exp. 2.36bln), Next Qtr. EPS (exp. 0.51), Next Qtr. Rev. (exp. 2.72bln), Current FY EPS (exp. 2.10), Current FY Rev. (exp. 10.56bln), Next FY EPS (exp. 2.45), Next FY Rev. (exp. 11.28bln) 11:30BST/06:30EDT
Tyson Foods Inc. (TSN) EPS (exp. 0.78), Revenue (exp. 13.63bln), Next Qtr. EPS (exp. 0.99), Next Qtr. Rev. (exp. 14.28bln), Current FY EPS (exp. 3.89), Current FY Rev. (exp. 56.88bln), Next FY EPS (exp. 4.44), Next FY Rev. (exp. 57.50bln) 12:00BST/07:00EDT
Pinnacle West Capital Corp (PNW) EPS (exp. 0.01), Revenue (exp. 1.08bln), Next Qtr. EPS (exp. 1.50), Next...
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It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF. Full Post: "I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States. The Tariff will be increased to 25%. It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF. Many Automobile and Truck Plants are...
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According to a source familiar with the situation, Anthropic envisions opening up Mythos to more organizations, but the White House opposes expanding access to such a powerful system. In addition to security concerns, there are reportedly worries that adding more users would leave too little computing power for the U.S. government to use Mythos effectively.(Nikkei)
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(Market Source)
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Full Post: It is very difficult for rats in a sewer pipe to know what’s going on in the outside world. Some color for the Iranian Leadership as they literally sit in the dark:1. The United States has complete control of the Strait of Hormuz.2. There is a hard currency, i.e. U.S. dollar, shortage.3. Food and gasoline rationing are in place.4. The entire international community has turned against you.5. The BLOCKADE will continue, until there is pre-February 27 Freedom of Navigation.
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CFO says not seeing any credit deterioration broadly within software, only one software company on non accrual.(Market Source)
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