Morning Juice – US Session Prep (8th December)

Sentiment
Stocks edged higher at the start of a week in which investors are looking for clues about next year’s interest-rate trajectory, even as a rate cut at the Fed’s final 2025 meeting is seen as almost certain. S&P 500 futures rose less than 0.1% after the benchmark closed just shy of a record high, while Netflix gained 1.5% in premarket trading after Trump flagged potential antitrust concerns over its planned Warner Bros. acquisition.
US markets have rallied toward their October peak following recent signals from Fed officials pointing to a cut on Wednesday, though sentiment remains cautious amid uncertainty over the pace of easing in 2026 and questions about the durability of the AI-driven market surge.

Bond markets weakened globally, led by Europe, after the ECB’s Schnabel became the first senior official to say definitively that European rates have reached their floor.
US Treasuries followed suit, with the 10-year yield rising 2 bps to 4.15%.
Meanwhile, interviews with 39 fund managers across the US, Europe, and Asia showed that most investors still expect a risk-on environment through next year, driven by expectations of strong global growth, ongoing advances in AI, supportive policy settings, and fiscal stimulus.

Docket
13:00 ET
US sells $58 bln 3-Year Notes
Prior High Yield: 3.579%
Prior Bid-to-Cover: 2.85

Speakers
10:00 ET
ECB’s Cipollone speaks on “The transformation of money: technological disruption and the future of financial services” at Frankfurt School of Finance & Management in Frankfurt, Germany.

12:00 ET
BoE’s Taylor speaks on panel at McKinsey.

13:30 ET
BoE’s Lombardelli speaks on a panel about women in economics at a London School of Economics conference.

14:00 ET
Trump participates in a Roundtable.

Good luck!