CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Core stays better offered

EGB SUMMARY

Core EGB have traded heavy today and this afternoon, taking their cue from the risk on tone, as Biden edges closer to a potential win.

  • In turn, this has helped the German curve bear steepened today.
  • Peripherals have outperformed, and trading tighter on the session, with Greece leading at 3bps tighter, while Spain and Portugal sits close to flat on the day.
  • Looking ahead, focus turns to the FOMC, and continued polling results from the US election.
  • Dec Bund futures (RX) down 19 ticks at 176.21 (L: 176.09 / H: 176.65)Germany: The 2-Yr yield is up 1.2bps at -0.781%, 5-Yr is up 1.2bps at -0.805%, 10-Yr is up 0.9bps at -0.629%, and 30-Yr is up 1.3bps at -0.218%.
  • BTP futures (IK) up 32 ticks at 150.53 (L: 150.36 / H: 150.89)
  • Italy / German 10-Yr spread 2.9bps tighter at 129.6bps
  • Dec OAT futures (OA) down 9 ticks at 170.35 (L: 170.23 / H: 170.7)
  • 10Yrs:Spanish bond spread down 0.7bps at 72.3bps
  • Portuguese PGB spread down 0.3bps at 70bps
  • Greek bond spread down 2.9bps at 146.5bps
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