Source: Federal Reserve Bank of Richmond Fifth District manufacturing activity expanded in December. DXY up +0.16%, EUR USD down -0.27% The composite index increased from 12 in November to 16 in December, largely due to increases in shipments and new orders.The employment index flattened but remained in the expansionary zone.Meanwhile, backlogs of new orders posted their … [Read more...] about Fifth District Manufacturing Sector Expanded in December
Forex News
China’s 10-Year Sovereign Bond Yields Fall to Lowest Since June 2020
Source: Bloomberg China’s 10-year sovereign bond yields fell to an 18-month low, as the boost in short-term liquidity drove down interbank borrowing costs. MCHI is down 0.40% premarket. The 10-year government bond yields declined by two basis points to 2.795% as of 4:40 p.m. in Shanghai. This is the lowest level since June 2020.Government yields have been declining since … [Read more...] about China’s 10-Year Sovereign Bond Yields Fall to Lowest Since June 2020
European Gas Extend Plunge as LNG Supplies Promise Re-Balancing of the Market
Source: Bloomberg European natural gas extended its falling trend to the longest in over one year as shipments from the US were expected to ease the region’s energy shortage. TTF1! down -19.37% Benchmark Dutch front-month gas dropped for the 5th consecutive day, falling nearly 8.3% in Amsterdam. Additional vessels ferrying liquefied natural gas are moving towards … [Read more...] about European Gas Extend Plunge as LNG Supplies Promise Re-Balancing of the Market
Texas Factory Activity in December Elevated as Employment Hits an 8-Month High
Source: Federal Reserve Bank of Dallas Texas factory activity accelerated at an above-average rate in December, with the production index steady at a solid output expansion of 26.7. SPY is up +0.90%, DXY is up +0.05%. New orders index remained above the series average of 6.7 despite falling to 18.1 in December, from 19.6 the previous month. The shipments index was … [Read more...] about Texas Factory Activity in December Elevated as Employment Hits an 8-Month High
China’s Industrial Profits Cools to a 9% y/y Growth in November
Source: NBS China recorded a 9% increase in industrial profits in November, which hit 805.96 billion yuan or $126.54 billion, dropping from a gain of 24.6% the previous month. CSI 300 is down -0.041%, USDCNY is up +0.07%. The slow increase in industrial profits reflected a decline in prices of some raw materials amid slowing domestic demand and a weak property … [Read more...] about China’s Industrial Profits Cools to a 9% y/y Growth in November
