Last Wakeup Call Of The Year, Enjoy The Holidays

We expect volumes to wear out as market participants are set to spend some
time off the books and get ready for a new year.

Overnight News Bullets

• JN Convenience Store Sales YoY (Nov), out at -0.5% vs. -1.2% prior.
• GE GfK Consumer Confidence Survey (Nov), out at 4.5 vs. 4.0 exp. 4.3 prior.
• SZ Trade Balance (Nov), out at 1.89B vs. 1.44B exp. 1.56B prior.
• SZ Producer & Import Prices MoM/YoY (Nov), out at 0.3%/3.0% vs. 0.2%/2.9% exp. 0.2%/2.7% prior.
• NO Unemployment Rate (Dec), out at 1.6% as expected. Unchanged from prior.
• UK GDP QoQ/YoY (3Q F), out at 0.7%/3.3% vs. 0.7%/3.2% exp. 0.7%/3.2% prior.
• UK Current Account (3Q), out at -20.0B vs. -11.4B exp. -9.1B prior.
• UK Public Finances (Nov), out at 8.9B vs. 8.0B exp. -4.8B prior.
• UK Public Sector Net Borrowing (Nov), out at 11.2B vs. 10.0B exp. -1.0B prior.
• UK M4 Money Supply MoM/YoY (Nov P), out at 0.1%/11.1% vs. 0.4%/11.6% exp. 0.2%/11.8% prior.
• UK BSA Mortgage Approvals (Nov), out at £4533M vs. £3985M prior.
• US GDP Annualized (3Q F), out at 4.9% as exp. Unchanged from prior.
• US Personal Consumption (3Q F), out at 2.8% vs. 2.8% exp. 2.7% prior.
• US GDP Price Index (3Q F), out at 1.0% vs. 0.9% exp. 0.9% prior.
• US Core PCE QoQ (3Q F), out at 2.0% vs. 1.8% exp. 1.8% prior.
• US Initial Jobless Claims (Dec 15), out at 346K vs. 335K exp. 333K prior.
• US Continuing Claims (Dec 8), out at 2646K vs. 2610K exp. 2639K prior.
• US Leading Indicators (Nov), out at -0.4% vs. -0.3% exp. -0.5% prior.
• US EIA Natural Gas Storage Change (Dec 14), out at -121 vs. -133 exp. -146 prior.
• US Philadelphia Fed. (Dec), out at -5.7 vs. 6.0 exp. 8.2 prior.
• NZ GDP QoQ/YoY (3Q), out at 0.5%/3.3% vs. 0.4%/3.2% exp. 0.7%/3.2% prior.
• AU New Motor Vehicle Sales MoM/YoY (Nov), out at 1.1%/10.1% vs. 1.1%/8.9% prior.
• NZ Credit Card Spending (Nov), out at 9.5% vs. 7.8% prior.