RUSSIAN FOREIGN MINISTRY SAYS: AMID INCREASED CONFRONTATION WITH USA, TRIPS TO USA ARE FRAUGHT WITH RISKS
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RUSSIAN FOREIGN MINISTRY: RELATIONS WITH USA ARE TEETERING ON THE VERGE OF RUPTURE
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RUSSIAN FOREIGN MINISTRY: WE URGE RUSSIAN CITIZENS TO REFRAIN FROM TRIPS TO THE UNITED STATES AND ITS SATELLITES, PRIMARILY CANADA AND SOME EU COUNTRIES
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TRUMP'S MEXICAN TARIFF PLAN COULD HIT U.S. TEQUILA IMPORTS FROM DIAGEO AND BECLE WORTH MORE THAN $3 BLN COMBINED IN 2023, ANALYSIS OF CUSTOMS DATA SHOWS
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U.S. CPI DATA COULD PUSH DOLLAR, TREASURY YIELDS HIGHER
The U.S. dollar and Treasury yields could rise further if inflation data at 1330 GMT are higher than expected, Brown Brothers Harriman's Elias Haddad says in a note. Expectations of U.S. interest-rate cuts could be scaled back further as a result. "We see room for U.S. interest rate expectations to adjust higher in favor of the dollar and Treasury yields," the senior markets strategist says. The Wall Street Journal's poll forecasts annual headline CPI of 2.7% in November, versus 2.6% in October. The 2-year Treasury yield rises 2 basis points to 4.168%, while the 10-year Treasury yield increases 2 basis points to 4.238%, according to Tradeweb. The DXY dollar index rises to a two-week high of 106.81.
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The U.S. dollar and Treasury yields could rise further if inflation data at 1330 GMT are higher than expected, Brown Brothers Harriman's Elias Haddad says in a note. Expectations of U.S. interest-rate cuts could be scaled back further as a result. "We see room for U.S. interest rate expectations to adjust higher in favor of the dollar and Treasury yields," the senior markets strategist says. The Wall Street Journal's poll forecasts annual headline CPI of 2.7% in November, versus 2.6% in October. The 2-year Treasury yield rises 2 basis points to 4.168%, while the 10-year Treasury yield increases 2 basis points to 4.238%, according to Tradeweb. The DXY dollar index rises to a two-week high of 106.81.
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MORNING BID
❖ Dollar's Supremacy in 2024: Expected to continue into 2025 with Trump's "America first" policy including tariffs.
❖ China's Currency Strategy: Considering weakening the yuan in 2025 to offset potential U.S. tariffs under Trump.
❖ Beijing's Stimulus: Acknowledging the need for measures against the impact of high U.S. tariffs on Chinese exports.
❖ Trump's Tariff Plans: Proposing a 10% universal tariff and 60% on Chinese goods, pressuring the yuan's value.
❖ Currency Balance: China aims to depreciate the yuan enough to counter tariffs without sparking a currency war.
❖ U.S. Federal Reserve: Likely to cut rates by 0.25% next week, pending confirmation from the November CPI.
❖ Inflation Outlook: November CPI expected to show a 0.3% increase; concerns over rising costs in various sectors.
❖ Consumer and Wage Inflation: Inflation at 2.6% headline, 3.3% core, with wages not keeping pace with essentials.
❖ Bank of Canada: Anticipated to cut rates by 0.5% due to rising unemployment, despite a resilient economy.
❖ Impact of U.S. Tariffs on Canada: Uncertainty about economic effects if Trump's 25% tariff on Canadian imports is implemented.
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❖ Dollar's Supremacy in 2024: Expected to continue into 2025 with Trump's "America first" policy including tariffs.
❖ China's Currency Strategy: Considering weakening the yuan in 2025 to offset potential U.S. tariffs under Trump.
❖ Beijing's Stimulus: Acknowledging the need for measures against the impact of high U.S. tariffs on Chinese exports.
❖ Trump's Tariff Plans: Proposing a 10% universal tariff and 60% on Chinese goods, pressuring the yuan's value.
❖ Currency Balance: China aims to depreciate the yuan enough to counter tariffs without sparking a currency war.
❖ U.S. Federal Reserve: Likely to cut rates by 0.25% next week, pending confirmation from the November CPI.
❖ Inflation Outlook: November CPI expected to show a 0.3% increase; concerns over rising costs in various sectors.
❖ Consumer and Wage Inflation: Inflation at 2.6% headline, 3.3% core, with wages not keeping pace with essentials.
❖ Bank of Canada: Anticipated to cut rates by 0.5% due to rising unemployment, despite a resilient economy.
❖ Impact of U.S. Tariffs on Canada: Uncertainty about economic effects if Trump's 25% tariff on Canadian imports is implemented.
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RUSSIAN FOREIGN MINISTRY ON TRUMP CALLS FOR UKRAINE TALKS - 'IF SOMEONE HOPES MOSCOW WILL MAKE CONCESSIONS OVER UKRAINE THEY HAVE A SHORT MEMORY'
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What to Know Ahead of Today's Inflation Data
Consumer Price Index (CPI) for November: Expected to show a 2.7% annual increase.
Inflation Trend: This would continue the slight rise seen from 2.4% in September to 2.6% in October.
Core Inflation: Anticipated to remain at 3.3% year-over-year, excluding food and energy.
Release Schedule: CPI data out at 8:30 a.m. ET, with producer prices data following on Thursday.
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Consumer Price Index (CPI) for November: Expected to show a 2.7% annual increase.
Inflation Trend: This would continue the slight rise seen from 2.4% in September to 2.6% in October.
Core Inflation: Anticipated to remain at 3.3% year-over-year, excluding food and energy.
Release Schedule: CPI data out at 8:30 a.m. ET, with producer prices data following on Thursday.
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RUSSIAN FOREIGN MINISTRY SAYS ISRAEL'S ACTIONS IN SYRIA VIOLATE A 1974 AGREEMENT BETWEEN SYRIA AND ISRAEL
RUSSIAN FOREIGN MINISTRY SAYS ISRAELI AIR STRIKES ON SYRIA ARE A MATTER OF SERIOUS CONCERN
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RUSSIAN FOREIGN MINISTRY SAYS ISRAELI AIR STRIKES ON SYRIA ARE A MATTER OF SERIOUS CONCERN
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$M - MACY'S SHARES DOWN 10.6% PREMARKET AFTER Q3 RESULTS
*MACY'S 3Q ADJ EPS 4.0C, EST. 3.5C
*MACY'S 3Q NET SALES $4.74B, EST. $4.76B
*MACY'S SEES FY ADJ EPS $2.25 TO $2.50, SAW $2.55 TO $2.90
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*MACY'S 3Q ADJ EPS 4.0C, EST. 3.5C
*MACY'S 3Q NET SALES $4.74B, EST. $4.76B
*MACY'S SEES FY ADJ EPS $2.25 TO $2.50, SAW $2.55 TO $2.90
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WASHINGTON (AP) — Only about 2 in 10 Americans approve of President Joe Biden's decision to pardon his son Hunter: AP-NORC poll.
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SCHOLZ: PUTIN'S WAR GOALS FAIL; UKRAINE'S EU PATH UNSTOPPABLE
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CHINA PBOC: YUAN EXCHANGE RATE HAS SOLID BASE FOR STABILITY
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$TSLA - TESLA'S CYBERTRUCK COMPLETES ENERGY CONSUMPTION DECLARATION WITH CHINA'S MINISTRY OF INDUSTRY AND INFORMATION TECHNOLOGY - MINISTRY
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OPEC MAKES DEEPEST CUT YET TO 2024 WORLD OIL DEMAND FORECAST
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Bipartisan Legislation To Be Introduced to Force Health Insurers to Give Up Pharmacy Businesses -- WSJ
PBMs, Their Parents Would Have Three Years to Divest Pharmacy Units Under Senate and House Bills -- WSJ
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PBMs, Their Parents Would Have Three Years to Divest Pharmacy Units Under Senate and House Bills -- WSJ
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CHINA MARKED FIRST NET OUTFLOW OF FOREIGN DIRECT INVESTMENT IN DECADES IN 2024 - IIF
INDIA PORTFOLIO INFLOWS TO MORE THAN TRIPLE TO $22 BLN IN 2025 - IIF
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INDIA PORTFOLIO INFLOWS TO MORE THAN TRIPLE TO $22 BLN IN 2025 - IIF
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Redfin Reports Asking Rents Fall 0.7% to Lowest Level Since March 2022
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