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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

What to watch

OUTLOOK
  • Yesterday's 25bp hike from the Fed was accompanied by uncertainty over the future path for policy, with Powell noting that policy is tight and sating that the June decision would be data dependent (he clarified that no decision had yet been made on whether to pause or not). Compared to the levels seen around the European close, 10-year UST yields are around 10bp lower but Bund futures are little changed from that level, having reversed the overnight gains.
  • This indicates that we either might see a bit of a catch up in EGBs on the cash open this morning or it might be that market participants are wary of putting on positions ahead of today's ECB meeting. A 25bp hike is expected from the ECB today with the latest inflation and banking sector data diminishing the case for 50bp. Given the uncertain outlook, the ECB is unlikely to provide explicit forward guidance at this juncture, though will likely nod to further tightening being likely in the baseline scenario. There is potential for a TLTRO "bridge" operation to be announced Thursday; more surprising - but possible - would be a decision on APP runoff beyond June. For the full MNI ECB Preview click here.
  • Elsewhere today we will receive the final prints of Eurozone/UK services PMI prints as well as US productivity and weekly claims data. France and Spain will both hold auctions, as we noted above.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.