US: Atlanta Fed Business Inflation Expectations (BIE) Steady at 3%
Jan-11 15:22
Atlanta Fed reports year-ahead inflation expectations of businesses in the Sixth District are steady at 3.0%.
- Current economic environment: "Compared to normal," sales levels remained relatively unchanged. However, profit margins "compared to normal" significantly decreased. Year-over-year unit cost growth remained relatively unchanged at 3.7 percent, on average.
- Quarterly question: Firms' sales gaps (percentage below "normal" unit sales levels) significantly decreased to 4.6 percent below normal. Small, medium, and large firms' unit sales gaps decreased significantly.
- Special question: Firms were asked about their most pressing concerns. A breakdown of the results can be found in the special question section below.
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US TSY FUTURES: Tsy Support Evaporates
Dec-12 15:11
US Tsy futures support evaporates last 10 minutes - again, no obvious headline driver again - US FI appear to be following Gilts and Bunds reversing support. Tsy yield curves off lows:
- 3M10Y +0.563, -71.548 (L: -79.909 / H: -70.814)
- 2Y10Y -0.226, -77.452 (L: -81.216 / H: -76.548)
- 2Y30Y +0.181, -78.979 (L: -84.438 / H: -78.486)
- 5Y30Y +1.024, -20.292 (L: -23.952 / H: -20.142)
MNI EXCLUSIVE: Ex-Fed Officials On December Econ / Rate Projections
Dec-12 14:59
MNI speaks to former Fed officials about the next Summary of Economic Projections --On MNI Policy MainWire now, for more details please contact sales@marketnews.com
EUROZONE ISSUANCE: Slovakia 2023 issuance plans
Dec-12 14:13
- ARDAL published its issuance plans for 2023 earlier today. It looks for gross issuance of E8.0bln in 2023 (down from 2022's target of E6.0bln and actual issuance of E5.2bln nominal / E4.7bln in cash terms).
- It expects to launch 2 new issues via syndication: a new "medium-term" bond with issue size of E3.0bln and a new "medium/long-term" bond with an issue size of E3.0bln or E5.0bln.
- It expects to raise E4.0bln through syndications "regardless of the number of transactions." (In 2022 there was one transaction of E1.0bln, less than the E2-3bln planned).
- Auctions are expected monthly, with reserve dates in July, August and December.
- No bill issuance is expected in 2023.
