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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Midmorning SOFR Option Roundup

STIR
SOFR options continue to rotate around upside call structures even after underlying futures pare gains post-ISM services data. Projected rate cut pricing into year end ease vs. early morning levels (*): Sep'24 cumulative -51.5bp (-54.3bp), Nov'24 cumulative -90.7bp (-95.9bp), Dec'24 -121.4bp (-128.1bp).
  • -5,000 0QZ4 96.50 calls vs 97.075/0.72% vs 2QZ4 96.75 calls vs. 97.105/0.74%, 16.5
  • -5,000 SFRX4 95.50/95.62/95.75/95.87 call condors 2.25 ref 96.03
  • -10,000 0QZ4 96.25 calls vs 97.075/.80% vs 2QZ4 96.50 calls vs 97.105/0.75%, 18.0
  • -6,000 SFRZ4 96.25 calls 26.0 vs. 96.09/0.40%
  • -5,000 0QU4 97.00/97.25 call spds, 9.0 vs 96.995/0.16%
  • +10,000 SFRU4 94.93/95.31 put spds 12.5 ref 95.41
  • +10,000 SFRU4 95.37/95.87 call spds 10.0 vs. 95.42/0.27%
  • -10,000 0QZ4 96.25/96.75 call spds v 2QZ4 96.37/96.75 call spds, 7.5 net
  • -5,000 SFRZ4 95.37/95.50 call spds, 10.5 ref 96.16
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