CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Busy Session Ahead: Retail Sales, Earnings, Fed Speak Pre-Blackout

US TSYS
Busy Friday session ahead: Tsys trade modestly higher, well off early London trade highs on light volume (TY2<200k) as markets await a heavy slate of economic data at 0830ET that includes Retail Sales MoM (-0.3%, 0.9%); ex-Auto (0.5%, 0.7%), Import/Export Prices; Cap-U/IP at 0915ET, UofMich Sentiment at 1000ET.
  • More Fed speak with policy blackout starting Fri at midnight: Atlanta Fed Bostic on mon-pol, global mkt uncertainty, no text but will field Q&A at 0845ET, StL Fed Bullard eco/mon-pol outlook, no text, Q&A at 0900ET and SF Fed Daly radio interview at 1030ET.
  • A lot of focus on Fed speak after Fed Gov Waller threw cold water on mkt pricing higher chance of 100Bp hike on July 27. Short end Fed Funds and Eurodollar futures gapped higher on Fed Gov Waller comments that he supports another 75-basis point increase at next FOMC, bringing the fed funds rate to 2.25% - 2.5%. StL Fed Bullard also said he favored a 75bp hike at the end of the month.
  • Caveat: Though June CPI may have "anchored" Waller's 75bp hike expectation in a couple weeks, He would "lean toward larger, full-point" hike if "retail sales, housing data are 'materially stronger than expected' Rtrs reported.
  • Stock earnings continue resume this morning: Bank of NY Mellon, Wells Fargo, Citi Group, Blackrock, State Stree and US Bancorp. On Thu: MS earnings miss (1.44 vs. 1.57 est) after JPM (2.76 vs. 2.883 est) -- both citing unprecedented volatility and deteriorating macro conditions.
  • Yield curves mildly flatter after strong short end rebound late Thursday. Currently, 2-Yr yield is down 1.2bps at 3.1201%, 5-Yr is down 2.3bps at 3.0426%, 10-Yr is down 2.4bps at 2.9355%, and 30-Yr is down 1.7bps at 3.0875%.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.