SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 12/17/25 05:49 AM EST

05:49 AM EST, 12/17/2025 (MT Newswires) -- Societe Generale in its early Wednesday economic news summary pointed out:

-- US dollar (USD) off payrolls (NFP) lows, oil rebounds 1.5% after President Trump ordered a blockade of sanctioned oil tankers going into and leaving Venezuela. 10-year United States Treasury up 2bps at 4.16% after defending the 100-day moving average (DMA) support on Tuesday (4.14%) post-employment data.

-- Japan trade balance surprisingly swings to 322.2 billion yen surplus in November, exports accelerate to a nine-month high of 6.1% year over year.

-- United Kingdom consumer price index below forecast, slows to 3.2% year over year in November (-0.2% month over month led by food, non-alcoholic beverages). Core dips to 3.2% year over year. Services cool to 4.4%. Bank of England 25bps cut nailed on Thursday. 10-year Gilts erase support at 4.46%, GBP/USD slips below 200DMA.

-- India: Rupee (INR) rebounds 0.7% on Reserve Bank of India intervention after sliding to a record low of 91.08/USD. Governor Malhotra in FT interview suggests the policy rate should remain low for a 'long period' of time.

-- Bank of Thailand lowers key rate by 25bps to 1.25%, vote is unanimous. Bank Indonesia leaves key rate unchanged at 4.75%.

-- Day ahead: Federal Reserve speakers Waller, Williams, Bostic. Germany Ifo business climate. Eurozone final CPI. South Africa's CPI.

-- Nikkei +0.3%, EUR 10-year IRS -1bp at 2.90%, Brent crude +1.5% at $59.8/barrel, Gold +0.45% at $4,322/oz.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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