US: Trump Urges Congress To Enact 'Great Healthcare Plan'

• +5,000 FVH6 109-09, buy through 109-08.75 post time offer at 1111:55ET, DV01 $222,000.
• The 5Y contract trades 109-09.5 last (+3.75).

• 3,000 SFRU7 1Y bundle (SFRU7-SFRM8) +0.030 at 1102:43ET, likely swap-tied selling with spds running wider at the moment.

The New York Fed's monthly regional services firm (aka "Business Leaders") survey showed continued weak activity in December, with a notable pickup in price pressures. As the first of the monthly regional Fed services surveys, as with the prior day's Empire manufacturing report, it suggested little cause for cheer over economic developments at end-year.

• The general activity index ticked up to -20.0 from -21.7, but this is firmly negative and little changed over the last 4 months (the report describes the upshot as "activity continued to decline significantly"). Likewise, the business climate index at -44.2 (-42.2 prior) remained sub -40 for a 4th consecutive month, though the latest reading was narrowly a 6-month worst.
• Among the details: capex spending was steady at weak levels, employment fell for a 4th consecutive month amid weak wage growth, and supply availability continued  to worsen. Confidence improved marginally (echoing the Empire Manufacturing survey), with the 6-month general outlook of -1.1 the 2nd best of the year (-4.6 prior).
• The prices paid gauge however was an inflationary warning sign, jumping over 10 points to 72.1 for a post-2022 high. Expected prices paid edged down 1.7 points to 63.2 but remained above 60 for a 10th straight month.