US-CHINA: Bessent & Greer Hold "In Depth" Call w/Chinese Vice Premier He Lifeng
Reuters reporting that Chinese Vice Premier He Lifeng held a call with US Treasury Secretary Scott Bessent and United States Trade Representative Jamieson Greer. According to Reuters, He said the sides had an “in depth” and “constructive” exchange and agreed to “expand lists for cooperation.”
- Speaking at the New York Times Dealbook summit on Wednesday, Bessent said China was on track to complete its commitments under the recently inked US-China trade agreement, including the purchase of 12 million metric tons of soybeans, which he said would be finished by the end of February 2026.
- CGTN reported earlier today, “A high-level delegation of Chinese business leaders is in Washington meeting with U.S. companies as trade tensions between the two countries begin to ease.”
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MNI: US OCT FINAL SERV PMI 54.8 (55.2 FLASH, 54.2 SEP)
- MNI: US OCT FINAL SERV PMI 54.8 (55.2 FLASH, 54.2 SEP)
- US OCT FINAL COMPOSITE PMI 54.6 (54.8 FLASH, 53.9 SEP)
USDCAD TECHS: Tests The Channel Top
- RES 4: 1.4274 High Apr 9
- RES 3: 1.4200 Round number resistance
- RES 2: 1.4167 50.0% retracement of the Feb 3 - Jun 16 bear leg
- RES 1: 1.4136/40 Channel top drawn from Jul 23 low / Intraday high
- PRICE: 1.4127 @ 14:43 GMT Nov 5
- SUP 1: 1.3998 20-day EMA
- SUP 2: 1.3935 50-day EMA
- SUP 3: 1.3888 Low Oct 29 and a key support
- SUP 4: 1.3859 Bull channel base drawn from the Jul 23 low
A bull cycle in USDCAD remains intact. This week’s extension highlights a clear reversal of the corrective bear leg between Oct 14 - 29. The pair has breached 1.4080, the Oct 16 high to confirm a resumption of the uptrend.. Sights are on 1.4136 (pierced), the top of a bull channel drawn from the Jul 23 low. A clear break of this hurdle would open 1.4167, A Fibonacci retracement. First support lies at 1.3998, the 20-day EMA.
PIPELINE: Corporate Bond Update: Gradually Expanding as Earnings Cycle Wind Down
- Date $MM Issuer (Priced *, Launch #)
- 11/05 $Benchmark Mattel 5Y +160a
- 11/05 $Benchmark Equinix 5Y +110a
- 11/05 $Benchmark Polaris +5Y +200a
- 11/05 $Benchmark CBRE Services 7Y +130a
- 11/05 $Benchmark Santos Finance 10Y +195a
- 11/05 $Benchmark Northwestern Corp 2030 tap
- 11/05 $Benchmark KEPCO 3Y SOFR+62, 5Y +47
- 11/05 $Benchmark Intercontinental Exchange 3Y, +5Y
- 11/05 $Benchmark Apollo Global Mgt 5Y +110a, 10Y +130a
- 11/05 $Benchmark Transcontinental Gas Pipeline 10Y +120a, 30Y +130a
