STATSCAN SAYS NOV FLASH RETAIL SALES `RELATIVELY UNCHANGED'

MNI BRIEF: Fed's Daly-Have Entered 'Gradualist' Phase Of Cuts

MNI BRIEF: EU Says Ready To Purchase More U.S Energy

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

MNI: BELGIUM DEC BNB BUSINESS CONFIDENCE -13.8

MNI: US NOV PERSONAL INCOME +0.3%; NOM PCE +0.4%

MNI: CANADIAN OCT RETAIL SALES +0.6%; SALES EX-AUTOS/PARTS +0.1%

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

US TSYS: Veterans Day Holiday, FI Futures Drifting Lower, Focus on CPI/PPI

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • No data Monday in observance of Veterans Day holiday. Cash FI markets closed but futures are open on Globex; NYSE and Nasdaq are open. Focus is on CPI and PPI inflation data this Wednesday and Thursday respectively.
  • Treasury futures are currently trading weaker, lower half of narrow overnight ranges on modest volumes: Dec'24 10Y futures trade 110-00 last (-9) vs. 110-00 low on volume of just over 245,000.
  • Initial technical support below at 109-07 (Low Nov 6 and the bear trigger) followed by 109-05 (76.4% retracement of the Apr - Sep bull cycle (cont)) and 109-00 round number support.
  • Curves twisted fatter as short end rates underperformed Friday, Dec24 not fully pricing another 25bp cut: Projected rate cuts into early 2025 compared to late Friday levels (*): Dec'24 cumulative -17.1bp (-18.7bp), Jan'25 -25.7bp (-25.8bp), Mar'25 -38.9bp (-40.1bp), May'25 -46.9bp (-48.0bp).
  • Cross market roundup: crude trades weaker (WTI -1.23 at 69.15, Gold -18.50 at 2,666.27, USD gaining - extending highs vs. EUR, GBP, ZAR, CHF, CNH, CAD, NOK and SEK.
165 words

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.
  • No data Monday in observance of Veterans Day holiday. Cash FI markets closed but futures are open on Globex; NYSE and Nasdaq are open. Focus is on CPI and PPI inflation data this Wednesday and Thursday respectively.
  • Treasury futures are currently trading weaker, lower half of narrow overnight ranges on modest volumes: Dec'24 10Y futures trade 110-00 last (-9) vs. 110-00 low on volume of just over 245,000.
  • Initial technical support below at 109-07 (Low Nov 6 and the bear trigger) followed by 109-05 (76.4% retracement of the Apr - Sep bull cycle (cont)) and 109-00 round number support.
  • Curves twisted fatter as short end rates underperformed Friday, Dec24 not fully pricing another 25bp cut: Projected rate cuts into early 2025 compared to late Friday levels (*): Dec'24 cumulative -17.1bp (-18.7bp), Jan'25 -25.7bp (-25.8bp), Mar'25 -38.9bp (-40.1bp), May'25 -46.9bp (-48.0bp).
  • Cross market roundup: crude trades weaker (WTI -1.23 at 69.15, Gold -18.50 at 2,666.27, USD gaining - extending highs vs. EUR, GBP, ZAR, CHF, CNH, CAD, NOK and SEK.