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

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

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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RBC: Time For The Doves To Spread Their Wings

US OUTLOOK/OPINION
  • On balance, RBC loved the CPI report. They have said for "many, many months" that core CPI will be moving in the right direction by year end, and that a 3-handle by mid-23 or a 2-handle by end-23 was not at all heroic - they still very much like these calls.
  • They think the Fed are "completely overdoing it here" although for now struggle to see a scenario where it doesn't hike 50bps in Dec, although "would like nothing more than for them to stop".
  • "What we could see happen on the back of this soft CPI is it allows different camps within the Fed to really start to re-emerge. Every Fed official has been a hawk of late. It’s time for the doves to spread their wings."
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