UK DATA: ONS Delays PPI Release By A Week
Jan-11 16:39
The ONS has delayed to Jan 25 the upcoming Nov and Dec PPI releases which were due out on Jan 18. The Nov release had been cancelled due to various issues within detailed item prices, and the Oct data had large errors which required revision.
- The ONS investigations are now "complete" and they are finalising Nov and Dec PPI data along with an updated back series for release on Jan 25.
- Note that the Dec CPI data are unaffected and that release is still set for Jan 18.
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US TSYS/SUPPLY: Review: 3Y Auction
Dec-12 16:34
Little react in Treasury futures, holding weaker after $40B 3Y note auction (91282CGA3) 4.093% high yield vs. 4.092% WI; 2.55x bid-to-cover vs. 2.57x last month.
- Indirect take-up to 61.71% vs. 62.18% prior; direct bidder take-up at 20.44% vs. 17.04% prior; primary dealer take-up 17.85% vs. 20.78%.
- The next 3Y auction is tentatively scheduled for January 10.
US TSYS/SUPPLY: WI 3Y
Dec-12 16:26
WI climbing ahead the $40B 3Y auction (91282CGA3) 1130ET cut-off.
- 3Y WI is currently running around 4.092% (4.080% earlier) vs. last month's stop: 4.605% high yield vs. 4.615% WI.
US-CHINA: Japan And Netherlands To Join US In China Chip Restrictions
Dec-12 16:24
MNI London: Bloomberg reports that Japan and the Netherlands have "agreed in principle" to join the US in curbing the exportation of US origin chip technology to China, adding that, "new curbs may be announced in the coming weeks."
- The controls are part of a US-led drive to ensure access to semiconductor technology is restricted to countries which may pose a national security threat to the United States and semiconductor supply chains are reconstructed within the United State and other allied countries.
- the Schumer-Cornyn amendment, part of the National Defence Authorisation Act (NDAA) legislation awaiting a Senate vote, prohibits "the U.S. government from doing business with companies that rely on certain Chinese chipmakers with ties to the Chinese Communist Party (CCP) and Chinese military..."
- Senate Majority Leader Chuck Schumer (D-NY) said: “We must stand firm against China’s use of technology central to fuel their military expansion and plans for global dominance that threaten U.S. security...”
- Schumer continued: "It’s simple: the federal government should not be in the business of supporting Chinese-made chips that put our national and economic security at risk.”
