Societe Generale in its early Friday economic news summary pointed out:
-- The US dollar settles in a tight range with a modest bid, 10-year United States Treasury steady at 4.33% after Federal Reserve cuts 25bps, omits dovish reference in the statement. Chair Powell doesn't hint at a December pause but says not in a hurry to get to neutral, recent inflation higher than expected. Answers 'no' on question if incoming President Donald Trump asked him to resign, would you go? Sources close to Trump indicate that Powell will serve out his term which ends in 2026.
-- China: Yuan, 10-year yields retreat after NPC standing committee announces six trillion yuan ($839 billion) program to refinance local government debt, will raise local governments' debt ceiling to 35.52 trillion yuan to allow issuance of additional special bonds to swap hidden debt.
-- Day ahead: Fed speakers Bowman, Musalem. European Central Bank's Vujcic. Bank of England's Pill. Preliminary University of Michigan sentiment. Canada employment. Romania's central bank forecast to stand pat at 6.50%. Brazil and Chile consumer price index.
-- Nikkei +0.3%, EUR 10-year IRS -2bps at 2.39%, Brent crude -0.7% at $75.1/barrel, Gold -0.6% at $2,683/oz.
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