MNI China Daily Summary: Monday, November 25

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EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

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MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Evans Mindful Of Financial Market Stability

FED
  • Rate path: Sees Fed rates around 4.5% by March and then holding there for some time. Front loading a good thing but overshooting costly too. Need to be mindful of financial market stability.
  • On inflation: Sees some positive things for improving inflation climate and expects improvements in inflation but needs to see them after inflation persistence. Building on earlier comments that he is still waiting for convincing evidence that inflation is cooling.
  • On labor market: Signs that some of job market’s strength may be waning, JOLTS data go in right direction but vacancies are high.
  • Fed Funds implied hikes increase through the session with thin holiday volumes, with largest gains through 2023. Terminal now touches 4.70% for Mar’23 (+5bp on the day) with 4.45% for Dec’23 (+4bp).
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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