FED: US TSY TO SELL $86.000 BLN 13W BILL JAN 05, SETTLE JAN 08

• Stocks are in the red ahead midday Monday, off early session lows with better buying in Energy and Materials sector shares as US returns from the Thanksgiving holiday.
• Currently, the DJIA trades down 206.53 points (-0.43%) at 47512.43, S&P E-Mini Futures down 13.75 points (-0.2%) at 6846, Nasdaq down 52.1 points (-0.2%) at 23315.47.
• As noted Energy and Materials sector shares outperformed in the first half: Diamondback Energy +2.59%, Targa Resources +2.30%, Phillips 66 +2.23%, APA Corp +2.08%, ConocoPhillips +2.05% and Valero Energy +2.00%.
• Leading advances in the Materials sector: Mosaic Co +2.84%, Solstice Advanced Materials +2.73%, CF Industries Holdings +2.30%, PPG Industries +1.60% and Newmont Corp +1.57%.
• Meanwhile, Health Care, Industrials and Utilities sector shares led declines in the first half:
• Moderna -6.04%, Insulet Corp -3.13%, Centene Corp -2.97%, Biogen -2.58% and Regeneron Pharmaceuticals -2.30%.
• GE Vernova -3.13%, Lockheed Martin -2.99%, Northrop Grumman -2.66% and Quanta Services -2.54%.
• Sempra -2.64%, Vistra Corp -2.58%, NRG Energy -2.47%, Entergy Corp -2.32% and Dominion Energy -2.20%.

• EUR/USD: $1.1560(E1.1bln), $1.1600(E596mln), $1.1615-25(E1.4bln)
• USD/JPY: Y155.00($2.6bln), Y156.00($885mln), Y156.50($951mln)
• GBP/USD: $1.3030-50(Gbp2.1bln)
• EUR/GBP: Gbp0.8800(E700mln), Gbp0.8830-50(E1.1bln)

Chair of the Office for Budget Responsibility, Richard Hughes, has resigned following the fiasco of the early publication of the OBR's budget report last week. In his letter to Chancellor of the Exchequer Rachel Reeves and chair of the House of Commons Treasury Select Committee Dame Meg Hillier, Hughes says, "it is in the
best interest of the OBR for me to resign as its Chair and take full responsibility to the shortcomings identified in the report." 

• Hughes was due to appear in front of the House of Commons Treasury Select Committee tomorrow morning at 10:00GMT. It remains to be seen whether the session goes ahead with Hughes present, with him absent and the OBR represented by David Miles and Tom Josephs, members of the Budget Responsibility Committee at the OBR, or if it is cancelled entirely.