NEWS 27/09/24*

1. Federal - Williams: Launching a Committee for the Use of Benchmark Rates; the new committee will help the market use and understand benchmark rates.

Bowman: Hopes the Fed's balance sheet remains as small as possible. Barr:

Reviewing the bank liquidity leverage ratio but has no plans to adjust it. (There is a disagreement benween Barr and Bowman on the use of the discount window tool: Barr is working to destigmatize its use, while Bowman believes it should be used only in emergencies. Bowman was the sole dissenting vote in the last FOMC meeting.) Cook:

Fully supports a 50 basis points rate cut.

2. The U.S. Q2 final GDP annualized growth rate recorded 3%, in line with expectations and the previous value. Initial jobless claims for the week ending September 21 recorded 218,000, below the expected 225,000, marking a new low since the week of May 18.

3. Middle East Situation - Foreign media: The Israeli Prime Minister abandoned a private agreement with the U.S. and distanced himself from the proposal of a 21-day ceasefire with Lebanon. Israeli officials stated that reports of an imminent ceasefire are not true. The Isracli Defense Minister has approved a plan to continue offensive actions against Hezbollah in Lebanon.

4. U.S. Treasury Secretary Yellen: In extreme cases, it is conceivable to intervene in the U.S. dollar.

5. Israeli officials stated that reports of an imminent ceasefire are not true. The Isracli Defense Minister has approved a plan to continue offensive actions against Hezbollah in Lebanon.

6. Saudi Arabia is ready to abandon the $100 per barrel oil price target and increase production. Sources indicate that OPEC+ will proceed with the December production increase plan, lifting the capacity limit by 180,000 barrels per day.

7. Market News: The U.S. and the BU are close to reaching an agreement to usc frozen Russian assets to provide $50 billion in aid to Ukraine.

8. Libyan officials signed an agreement to end the dispute over the central bank. The Eastern Libyan government has pledged to lift the oil.