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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Yld Curves Bend Steeper

US TSYS SUMMARY
Rates and equities looked to finish out the session weaker Friday, the latter slipping to lows for the week (ESU1 4320.75) before bouncing to appr 4328.0 after the rate close. Tsys weaker for the most part as well, off lows and back near early overnight levels, curves mildly steeper with short end outperforming. Light volume: TYU appr 900k after the bell.
  • Retail sales better than expected -- Tsy futures gapped lower immediately after June R/S came out 0.6% vs. -0.3% estimate -- but rebound to pre-release levels just as quickly as revisions factor in a "wash" w/May to -1.7% from -1.3%. Equities held onto modest gains until midmorning when better selling/positioning ahead weekend pushed levels back to last July 9 levels.
  • Aside from the early data -- pre-weekend position squaring appeared to be main driver, Fed goes into media blackout at midnight, maintaining radio silence in regards to monetary policy through July 29, day after next FOMC.
  • The 2-Yr yield is up 0.2bps at 0.2255%, 5-Yr is up 0.5bps at 0.7798%, 10-Yr is up 0.5bps at 1.3037%, and 30-Yr is up 1.3bps at 1.9335%.
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