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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Eurodollar/SOFR, Tsy Option Roundup

US TSYS
Session theme: long put positions unwinding as weak service sector PMI (47.0 vs. 52.7 est) sees forward rate hike guidance for Sep and Dec cool off, while 75bp still a lock (see 1022ET bullet re: STIR implied probabilities).
  • Treasury volumes robust with pick-up in call buying in the second half: over 35,000 TYU 120 calls, wide range from 1-10, 10,300 TYQ 120.5 calls at 1.
    First half put flow included:
  • First half put flow included:
    • 5,900 TYU 116.5/118/118.5/120 put condors
    • over 11,500 TYU 119.5 puts, 57 last ref 120-04
    • over 17,000 TYQ 119.5 puts, 3 ref 119-28
    • over 30,000 TYU2 118 puts on wide range from 26-47, most prints at 34
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