Morning Bid: Odd jobs and bonds 

2 weeks ago 15

Reuters

Thu, December 4, 2025 astatine 6:32 AM CST 5 min read

LONDON, Dec 4 (Reuters) - By Marc Jones, planetary markets correspondent

What matters successful US and planetary markets today

It appears the U.S. system is experiencing immoderate symptom and the dollar is among the assets that person fallen astir arsenic it heads for its 10th consecutive time of declines and its biggest yearly driblet since 2007. Talk of who could beryllium the adjacent Federal Reserve seat whitethorn beryllium ​playing a part, but fixed existent Chair Jerome Powell is expected to chopped rates again adjacent week, economical information is too.

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Today's Market Minute

* The way up for Ukraine bid talks is unclear, U.S.President Donald Trump said connected Wednesday, aft what helium called"reasonably good" talks betwixt Russian President Vladimir Putinand U.S. envoys. * The Trump medication announced connected Wednesday increasedvetting of applicants for H-1B visas for highly skilled workers,with an interior State Department memo saying that anyoneinvolved successful "censorship" of escaped code to beryllium considered forrejection. * Bank of Japan main Kazuo Ueda utilized diplomacy and noddedto the dangers of ostentation and a anemic yen to merchantability his program fora December complaint hike to Prime Minister Sanae Takaichi, who onlylast twelvemonth called complaint hikes "stupid". What happens adjacent is lesscertain. * Soaring U.S. earthy state prices are eroding nett marginsfor the nation's LNG producers, a inclination that could ⁠deepen successful thecoming years, forcing exports to driblet arsenic planetary competitionheats up, writes ROI ‌Energy Columnist Ron Bousso. * The European Union's plans to signifier retired Russian naturalgas imports by 2027 volition impact immoderate subordinate nations much thanothers. Find retired who volition beryllium astir heavy affected successful the latestpiece from ROI Global Energy Transition Columnist Gavin Maguire.

Odd jobs and bonds

Wall Street looks acceptable for an uneventful restart, but traders volition get 2 much jobs marketplace indicators ‍shortly - U.S. play archetypal jobless claims and the Challenger occupation cuts report, positive net from Kroger, Dollar General and Hewlett Packard Enterprise. [.N] They travel blistery connected the heels of Wednesday's antagonistic 32k ADP employment people for November. It was antagonistic successful September, August and June too, whereas determination were nary antagonistic prints successful the full of 2024. Given non-farm payrolls won't beryllium coming connected Friday oregon adjacent earlier adjacent Wednesday's Fed determination (blame the shutdown again), the Challenger study could beryllium peculiarly intimately watched. Last month's mentation showed ​a large surge successful layoffs, albeit negated successful the extremity by debased jobless claims close done that month. Stratospheric AI and tech steadfast valuations are apt to stay a absorption excessively aft Wednesday's tumble successful Microsoft's shares ‌on a report, aboriginal denied, that it had chopped AI bundle income quotas. [.N] Over successful China, the cardinal slope acceptable its authoritative yuan fixing astatine 7.0733 per dollar earlier, importantly weaker than estimated. In the enslaved market, U.S. Treasuries are trading successful a choky 4% to 4.1% range. Meanwhile, Japan’s 30-year bonds rallied aft an overnight auction attracted the highest request since 2019 arsenic investors lapped up higher involvement rates. That bumper request besides followed a palmy merchantability of 10-year indebtedness earlier successful the week. However, the rally astatine the agelong extremity seems to person been funded from elsewhere successful the curve with the 10-year output rising astir 4 ground points. Meanwhile successful Europe, the statement implicit utilizing frozen Russian cardinal slope reserves to money Ukraine continues to propulsion up crippled twists. EU leaders volition marque a last determination connected their "reparations loan" program by December 18. If nary woody tin beryllium struck, Ursula von der Leyen has said ⁠the bloc volition edifice to associated indebtedness issuance, arsenic it did during the COVID-19 pandemic. There's besides the Fed's favored PCE ​inflation information coming connected Friday. Once that's out, the Fed, and investors, volition person each the cardinal information they are going to get earlier ​next week's meeting. Fed policymakers are successful their accepted quiescent play up of the meeting, truthful nary much nationalist guidance is expected earlier past though the Fed’s Bowman volition talk connected regulatory issues later, which mightiness beryllium worthy listening retired for too.


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