· Monday
Daily briefs generated by sembr, the open-source semantic intelligence engine · every item links to its sources
December holds near 72% as a four-week yield slide meets a refunding-and-payrolls week
December pricing has stopped moving — 72% on CME for a 25bp move against 28% for a hold — and with no speakers and no prints, the marginal information has shifted to positioning, liquidity and the Treasury refunding, with JPMorgan's flow work showing a third-largest deleveraging event of the year in leveraged equity funds and Morgan Stanley warning liquidity may be tighter than the Chair admits .
Brent slips below $112 into the midterms as Tehran floats a conditional two-day Hormuz reopening
Oil fell into Tuesday's US midterms despite fresh attacks on vessels around the Strait of Hormuz and Iranian threats to broaden retaliation if Washington strikes again, with Brent slipping below $112 a barrel after a jump of more than 2% on Friday , while an Iranian proposal to fully reopen the strait to shipping within two days — conditional on Washington meeting several conditions — kept the Qatar-led indirect channel alive .