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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Futures Update: Paring Losses

US TSY FUTURES
  • Still mostly weaker, Treasury futures are bumping up against the top end of the early overnight range, curves twisting steeper with the short end running steady.
  • Currently, Jun'24 10Y futures are trading 107-26.5 (-2.5), well below initial technical resistance of 108-22.5 (High Apr 19), volume nearly doubling since the open to just over 780k. The 2s10s curve is currently +3.341 at -33.596.
  • No more data on the day, Tsy bill auctions ($70B 13- and 26W) ahead at 1130ET.
  • Fed speakers in Blackout through May 2.
  • Corporate issuance rather muted as the latest earnings cycle gathers steam, though American Express 4pt debt generating some rate lock hedging in the short end.
  • Corporate earnings: Verizon and Albertsons announced ahead of the open, Nucor, Alexandria Real Estate, Globe Life after the close. Expected Tuesday: Pepsico, UPS, GM, Halliburton, Philip Morris, Pulte, Freeport McMoRan, Lockheed Martin, JetBlue, GE, Kimberly-Clark, Sherwin-Williams, Baker Hughes, Tesla, Texas Instruments, Visa, Enphase, Seagate.
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