US: Trump To Deliver Remarks At FIFA World Cup Draw Shortly

Dec-05 16:40

US President Donald Trump is shortly due to deliver remarks at the FIFA World Cup draw, alongside fellow hosts Canadian Prime Minister Mark Carney and Mexican President Claudia Sheinbaum. LIVESTREAM

  • Today’s meeting with Carney will be Trump's first face-to-face with his Canadian counterpart since Trump torpedoed trade talks with Ottawa in retaliation for an Ontario government-sponsored ad criticising US tariffs in October. Today will mark the first time Trump and Sheinbaum have met in person.   
  • The ad hoc North American leaders’ summit comes as the United States Trade Representative prepares to wrap up a three-day public hearing on the United States-Mexico-Canada trade agreement.
  • USTR Jamieson Greer told Politico this week that the US may walk away from the trade bloc and renegotiate bilateral trade agreements, “The president's view is he only wants deals that are a good deal. The reason why we built a review period into USMCA was in case we needed to revise it, review it, or exit it.” Greer indicated that Trump’s decision is likely to come early in the new year.
  • CBS’ Jennifer Jacobs reports that Trump will ‘talk trade’ with Carney and Sheinbaum. However, we think it's unlikely that Trump announces any major decision related to the USMCA today, as he tends to greet world leaders cordially in person, with the exception of Oval Office meetings with Ukrainian President Volodymyr Zelenskyy and South African President Cyril Ramaphosa.

Historical bullets

FED: US TSY 17W BILL AUCTION: HIGH 3.770%(ALLOT 57.18%)

Nov-05 16:32
  • US TSY 17W BILL AUCTION: HIGH 3.770%(ALLOT 57.18%)
  • US TSY 17W BILL AUCTION: DEALERS TAKE 29.51% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: DIRECTS TAKE 5.32% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: INDIRECTS TAKE 65.16% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: BID/CVR 3.36

FED: US TSY 17W AUCTION: NON-COMP BIDS $424 MLN FROM $69.000 BLN TOTAL

Nov-05 16:15
  • US TSY 17W AUCTION: NON-COMP BIDS $424 MLN FROM $69.000 BLN TOTAL

US TSYS: Extending Lows

Nov-05 16:14
  • Treasuries are extending lows at the moment - tracking German Bunds with no obvious headline of Block driver, and unlikely comment from Fed Miran that: "DATA SUGGEST RATES CAN BE A LITTLE LOWER THAN THEY ARE" while "KEEPING POLICY THAT RESTRICTIVE RUNS UNNECESSARY RISKS," Bbg.
  • Currently, Dec'25 10Y contract trades -15 to 112-10 low, 10Y yield at 4.1532% (+.0681). A continuation lower would open 112-06, the Sep 25 low and the next key support.