JET FUEL: Japan’s Development Bank Invests in US E-SAF: Argus

• Canadian Real Estate Assn says Wed that even with Dec decline sales are +13% since the BOC's first rate cut in June.
• “Our forecast continues to be for a significant unleashing of demand in the spring of 2025, with the expected bottom for interest rates coinciding with sellers listing properties for sale in big numbers once the snow melts,” says CREA economist Shaun Cathcart.
• YOY sales +19%, avg price +2.5%, while sales indexed to match up similar models of homes -0.2%.

• With major indices off their best levels and the notably lower core yields today, USDJPY is extending session lows, breaching the December 31 lows of 156.02 at typing. As noted, multiple attempts into the prior intervention zone above 158.00 have been met with firm resistance.
• The latest US data and central bank rhetoric are likely to garner more and more attention as we approach the Jan 24 BOJ decision, where odds have been growing for a hike. A deeper correction would initially target 154.71, the 50-day EMA.

Six of Presidnet-elect Donald Trump's Cabinet nominees will face Senate scrutiny today, starting with Attorney General nominee Pam Bondi who will appear before the Senate Judiciary Committee shortly. LIVESTREAM None of the nominees appearing today are expected to face significant resistance to their confirmation.

• In roughly 30 mins, the next four hearings will kick off: Energy Secretary nominee Chris Wright at the Senate Energy and Natural Resources Committee, Secretary of State nominee Marco Rubio at the Senate Foreign Relations Committee, CIA Director nominee John Ratcliffe at the Senate Intelligence Select Committee, and Transportation Secretary nominee Sean Duffy at the Senate Commerce, Science, and Transportation Committee.
• Today's nomination hearings will conclude with Office of Management and Budget director nominee Russ Voight appearing before the Senate Homeland Security and Governmental Affairs Committee at 13:30 ET 18:30 GMT.
• Rubio, a China hawk with broad bipartisan support, is expected to deliver a stern critique of China’s foreign and industrial policy in his remarks to the Foreign Relations Committee.
• Rubio will say, per his prepared statement: "The postwar global order is not just obsolete; it is now a weapon being used against us. And all this has led us to a moment in which we must now confront the single greatest risk of geopolitical instability and generational global crisis in the lifetime of anyone alive here today."