BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

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

Market Roundup: Nov-Dec CPI Revision Little Hotter, Jan CPI Next Tue

US TSYS
Tsys holding near session lows in afternoon trade, yield curves see steepening relief after 2s10s fell to lowest inverted levels in 40 yrs Thu (-87.193), currently +5.387 at -77.442 (-76.407 high).
  • Knock on pressure after Canada employment data came out much stronger than expected (+150k vs. +15k est), underscoring CB bank messaging this week to continue to hike rates (data dependent) until inflation meets targets.
  • Session focus on BLS Seasonal Adjustment revisions to CPI. Core CPI inflation running 0.1pps hotter in M/M terms in both Nov and Dec at 0.31% and 0.40% M/M respectively, with a weaker than first thought period in the spring.
  • However, potentially supporting the muted market reaction to the annual revision is that most of this recent strength came through core goods.
  • Muted react to UofM February Consumer Sentiment of 66.4 vs. 65. est, 64.9 prior.
  • No react to midday comments from Philly Fed Harker: favours getting rates above 5% and then pausing (previously slightly above 5%). In other comments, he sees it “more probable now” that we can pull off a soft landing, with a good chance of doing so if inflation keeps easing.
  • Focus turns to Jan CPI next Tue: MoM (0.1% rev, 0.5%); YoY 6.5%, 6.2%).
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.