{
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[Bloomberg]
Scott Bessent, Donald Trump's nominee for Treasury secretary, emphasized his commitment to implementing the president-elect's tax cuts and tariffs. He plans to prioritize the introduction of tariffs, particularly targeting Chinese imports, and aims to reduce government spending.
Bond traders are facing limitations on short-bet profits as buyers step in to stabilize the market after a surge in yields following the election of President-elect Donald Trump. In the past week, bearish positions increased, pushing 10-year yields to 4.5% for the first time since May, driven by expectations of accelerated growth and inflation alongside strong US economic data and reduced chances of significant Federal Reserve rate cuts.
The Middle Eastern sovereign wealth fund landscape is undergoing significant changes, with Qatar appointing a new CEO for its $510 billion fund and Kuwait replacing the head of its $1 trillion state-backed investor. Meanwhile, the Abu Dhabi Investment Authority is navigating a strategic shift.
South Africa is set to market eurobonds in its first international debt sale under a coalition government following the May elections. The offering will include a benchmark-sized 12-year fixed note with a yield around 7.4% and a 30-year bond yielding approximately 8.25%, according to sources.
Speculators in the Treasury options market are reaping significant profits from bearish bets placed prior to Donald Trump's re-election, as Treasury yields soared to multi-month highs. Large block sales in US bond options were observed, indicating a strategy to unwind positions established weeks earlier rather than initiating new ones.
The upcoming US presidential election could significantly impact several multi-billion-dollar energy projects. Republican candidate Donald Trump has pledged to eliminate climate policies he criticizes and increase oil and gas production to lower energy costs, stating, “If they drill themselves out of business, I don’t give a damn.”
The Federal Trade Commission has adopted new antitrust rules requiring companies to provide more information on mergers and acquisitions, achieving a rare bipartisan 5-0 vote. This decision saw support from both Republican and Democratic commissioners, reflecting a collaborative effort involving the agency's competition staff and the Justice Department's antitrust division.
Poland's government has increased its 2024 budget deficit forecast to 240.3 billion zloty ($60 billion) from 184 billion zloty due to lower-than-expected value-added tax revenues and additional spending caused by a severe flood. Investor demand at a recent government bond auction fell to its lowest level in two years, reflecting growing concerns over the expanding budget gap.
Colombia is re-entering the global bond market for the second time this year, seeking to gauge investor interest in its dollar bonds. The country plans to issue notes maturing in 2036 and 2054, with initial pricing discussions indicating yields of approximately 8.15% and 8.8%, respectively.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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