CME Halt Disrupts Futures Trading
Data-center issues froze CME futures, while firmer Tokyo inflation stoked BoJ hike bets and the UK’s outlook dimmed on OBR forecasts. India’s macro print is up next; U.S. cash markets are closed today with a shortened Black Friday session.
TL;DR:
- 🛑 CME outage halts key futures
- 🇯🇵 Tokyo CPI lifts BOJ hike odds
- 🇬🇧 UK outlook dims on OBR report
- 🇮🇳 India macro data due today
CME Outage Halts Key Futures
Trading on the Chicago Mercantile Exchange paused after a cooling issue at CyrusOne data centers, disrupting major contracts across commodities, Treasuries, and S&P 500 futures. The halt thinned liquidity and widened spreads, prompting firms to tighten risk until systems stabilized. U.S. equities are closed today for Thanksgiving with a shortened Black Friday session, keeping volumes light. Separately, logistics risk rose after UPS grounded a fleet following a deadly crash, with inspections likely to stretch through peak season. Source Source Source
Tokyo CPI Lifts BOJ Hike Odds
Tokyo core CPI rose 2.8% year-on-year in November, edging past forecasts and reinforcing speculation of a December BoJ rate hike. Traders flagged potential volatility in yen pairs and JGBs as policy normalization risk inches higher. Focus now shifts to guidance from policymakers and incoming labor data for confirmation. Source
UK Outlook Dims on OBR Report
The Office for Budget Responsibility projected weaker growth and higher inflation, rattling sentiment across gilts and sterling-sensitive equities. The update tightens the policy-growth trade-off and raises questions on fiscal headroom, keeping risk premia elevated. Positioning remains defensive until clarity on borrowing and issuance paths improves. Source
India Macro Data Due Today
India will release GDP growth, industrial output, and the October fiscal deficit, a data pack that could move INR, bond yields, and local equities. Strong prints would validate the domestic growth premium; misses could pressure risk assets into month-end. Liquidity may be patchy with U.S. markets partly offline. Source