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Site work, including remediation, will continue in Paulding country after the Line 1 restart. (Newswires)
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Sees US public debt at 99.9% of GDP in 2025, rising to 118.5% in FY2035 based on current lawsFY25 deficit seen at USD 6.2% of GDP (prev. 6.4% in 2025); 5.8% average between 2026-2035.Cumulative FY 2026-2035 deficit at USD 21.758tln (vs June forecast of deficit of USD 22.083tln).Sees US real GDP growth at 1.9% in 2025 (vs June forecast of 2.0%) and to average 1.9% for 2024-34.Sees 10yr UST yields at 4.1% in 2025, 3.9% average for 2024-2034.Economic forecasts
(Newswires)
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Holiday: Martin Luther King Jr. Day; Newsquawk will run a full service on MLK Day despite US market closures given that the holiday coincides with the inauguration of US President-elect Trump.Events: Second inauguration of US President-elect TrumpData: Chinese LPR, German Producer Prices, BoC SCESupply: Australia, UK(Newsquawk)
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Monday
Holiday: Martin Luther King Jr. Day; Newsquawk will run a full service on MLK Day despite US market closures given that the holiday coincides with the inauguration of US President-elect Trump.Events: Second inauguration of US President-elect TrumpData: Chinese LPR, German Producer Prices, BoC SCESupply: Australia, UKTuesday
Data: UK Jobs, German ZEW, Canadian CPI, NZ CPI (Q4)Supply: Japan, GermanyEarnings: Charles Schwab Corp., D.R. Horton, Inc., KeyCorp, 3M Company, Fifth Third Bancorp, Forestar Group Inc., Prologis, Inc., Netflix, Inc., United Airlines, Interactive Brokers Group Inc, Seagate Technology plc, Progress Software Corp., Capital One Financial Corp., Abrdn, EricssonWednesday
Speakers: ECB’s Villeroy, Knot, LagardeSupply: Australia, Germany,...
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This would guard against moral hazard when market participants take bigger risks thinking the bank will intervene if things go wrong.It could improve programs by more clearly distinguishing between asset purchases to restore market functioning and asset purchases for monetary stimulus.It should outline purpose of each program and design them to ensure they are temporary and have a clearly defined exit strategy.Measuring precise impact of quantitative easing is challenging.Found QE kept longer-term rates lower than they otherwise would have been, thereby boosting the economy.If QE is needed again, bank could link size and pace of purchases, as well as end...
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European stocks and fixed income higher, USD up, crude a touch softerTrump stated he had a "very good" call with Chinese President XiUK retail sales provided the latest disappointing release for the GBPEQUITIES
European bourses (Stoxx 600 +0.8%) opened modestly firmer across the board and have continued to climb throughout the session; indices look to end the day near session highs.European sectors held a strong positive bias, with Construction & Materials and Basic Resources topping the pile; sentiment in the sectors lifted after positive Chinese GDP and activity data overnight. Healthcare was the clear laggard, dragged down by losses in Novo...
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There are delays in construction of nuclear power plant blocks in Iran, we consider construction of new blocks. (Newswires)
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Says China and US share broad common interest and broad space for cooperation - can be partners and friends.(Newswires)
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Q1 25 revenue and adj. EBITDA expected to be at similar levels as last year.Expects activity rebound in Q2, particularly in international markets.Expects Canada APS (Asset Performance Solutions) asset sale to close in the next few months. (Newswires)
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"We discussed balancing Trade, Fentanyl, TikTok, and many other subjects. President Xi and I will do everything possible to make the World more peaceful and safe!"(Truth )
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No space for changing monetary policy now.All forecasts indicate that this year CPI will be above target.Discussion about rate cuts must be delayed.Situation does not lend itself to to fast loosening policy.Core CPI to remain around 4%(Newswires)
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Medium-term risks to the baseline are tilted to the downside, while the near-term outlook is characterized by divergent risks. Upside risks could lift already-robust growth in the United States in the short run, whereas risks in other countries are on the downside amid elevated policy uncertainty.(IMF)
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TODAY'S AGENDA:DAY AHEAD: US industrial production is expected to grow +0.3% M/M in December (prev. -0.1%), while manufacturing output is seen +0.2% M/M (matching the prior). The CBO will release its Budget and Economic Outlook in the afternoon. On the energy front, Baker Hughes will report weekly rig count stats. On the CRA slate, Fitch Ratings may review Estonia's Credit Rating (currently A+). No Fed speakers are currently scheduled to speak today ahead of the pre-meeting Blackout window, which begins on January 18th, ahead of its January 29th confab.BROKER MOVES: CRM upgraded at TD Cowen; SPOT downgraded at Wolfe Research...
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Four-year (NC3) fixed and floating.Six-year (NC5) fixed and floating 11-year (NC10)(Newswires)
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PREVIEWSPBOC LPR (MON): The PBoC will release its Loan Prime Rates (LPRs) next week in a decision that comes amid efforts to balance economic support and manage currency challenges, as the Chinese economy continues to tackle weak consumer demand, deflation, and a troubled property sector. The PBoC is expected to maintain its benchmark lending rates, with the 1-year and 5-year LPRs steady at 3.1% and 3.6%. As a reminder, last month China left its LPRs unchanged and analysts at the time suggested the Federal Reserve's reduced projections for rate cuts in 2025 will have a limited impact on China’s monetary...
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MON: US Presidential Inauguration, PBoC LPR, Eurogroup Meeting; German Producer Prices (Dec)TUE: UK Unemployment/Wages (Nov), German ZEW (Jan), Canadian CPI (Dec), New Zealand CPI (Q4)WED: South African CPI (Dec), Japanese Trade Balance (Dec)THU: Norges Bank & CBRT Policy Announcements; US Jobless Claims (w/e 18th), Canadian Retail Sales (Nov), Japanese CPI (Dec), Swiss KOF (Jan)FRI: BoJ Policy Announcement; UK GfK (Jan), EZ, UK & US Flash PMIs (Jan)PBOC LPR (MON): The PBoC will release its Loan Prime Rates (LPRs) next week in a decision that comes amid efforts to balance economic support and manage currency challenges, as the Chinese economy continues...
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UPGRADES
American Air (AAL) Upgraded to Neutral at BofA; PT USD 20Applied Materials (AMAT) Upgraded to Overweight at KeyBanc; PT USD 225AT&T (T) Upgraded to Neutral at Arete; PT USD 19Axalta (AXTA) Upgraded to Outperform at Wolfe; PT USD 41Clearwater Analytics (CWAN) Upgraded to Overweight at Morgan StanleyCloudflare (NET) Upgraded to Buy at CitiDuPont de Nemours (DD) Upgraded to Outperform at WolfeEdison International (EIX) Upgraded to Overweight at JPMorgan; PT USD 96EnerSys (ENS) Upgraded to Outperform at Oppenheimer; PT USD 115Lam Research (LRCX) Upgraded to Overweight at KeyBanc; PT USD 95Lumentum (LITE) Upgraded to Overweight at Barclays; PT USD 125MoonLake Immunotherapeutics...
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