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MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Modestly Richer In BoJ Spillover

US TSYS
  • Cash Tsys trade 1-2bp richer across the curve, with the day’s richening helped at the margin by the BoJ decision and subsequent commentary failing to commit to any meaningful normalization steps.
  • Today sees a slightly heavier docket than yesterday, with housing data before some further Fedspeak from 2024 FOMC voters, but flow and headlines are again likely to set the tone barring any major surprises.
  • TYH4 trades at 112-15+ (+ 07+) off earlier highs of 112-18+, having lifted off yesterday’s low of 112-06. The most recent pause appears to be a flag formation, a bullish signal that highlights resistance at 112-28+ and 113-12+, Fibo projection points.
  • Data: Building permits/housing starts Nov (0830ET), TIC Flows Oct (1600ET)
  • Fedspeak: Barkin (0930ET, interview), Bostic (1230ET, fireside chat with no text), Goolsbee (1800ET, interview)
  • Bill issuance: US Tsy sells $70B 42-day CMB (1130ET)
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