First Squawk
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FED’S HAMMACK: JOB MARKET STABILIZED INTO LOW HIRE, LOW FIRE LANDSCAPE
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FED’S HAMMACK: THERE’S A RISK INFLATION COULD STICK AT 3% THIS YEAR, NEEDS TO COME DOWN
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U.S. OIL PRODUCTION TO AVERAGE 13.73 MLN BPD IN FEBRUARY VS 13.54 MLN BPD IN JANUARY; TO AVERAGE 13.74 MLN BPD IN MARCH – EIA
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U.S. NATURAL GAS PRODUCTION TO AVERAGE 120.7 BCF/DAY IN FEBRUARY VS 117.1 BCF/DAY IN JANUARY; TO AVERAGE 120.9 BCF/DAY IN MARCH – EIA
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EIA SEES 2026 U.S. OIL OUTPUT OF 13.6 MLN BPD, VS PRIOR FORECAST 13.59 MLN BPD; SEES 2027 OUTPUT OF 13.32 MLN BPD (PVS 13.25 MLN BPD)
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EIA SEES 2026 U.S. NATGAS OUTPUT OF 110 BCF/DAY, VS PRIOR FORECAST 108.8 BCF/D; SEES 2027 DEMAND OF 111.2 BCF/D (PVS 109.7 BCF/D)
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EIA SEES 2026 U.S. OIL DEMAND OF 20.6 MLN BPD, VS PRIOR FORECAST 20.6 MLN BPD; SEES 2027 DEMAND OF 20.7 MLN BPD (PVS 20.7 MLN BPD)
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EIA SEES 2026 U.S. NATGAS DEMAND OF 91.6 BCF/DAY, VS PRIOR FORECAST 90.3 BCF/D; SEES 2027 DEMAND OF 91.5 BCF/D (PVS 90.9 BCF/D)
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EIA SEES 2026 WORLD OIL OUTPUT OF 107.8 MLN BPD, VS PRIOR FORECAST 107.7 MLN BPD; SEES 2027 OUTPUT OF 108.8 MLN BPD (PVS 108.2 MLN BPD)
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EIA SEES 2026 WORLD OIL DEMAND OF 104.8 MLN BPD, VS PRIOR FORECAST 104.8 MLN BPD; SEES 2027 DEMAND OF 106.1 MLN BPD (PVS 106.1 MLN BPD)
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EIA SEES 2026 WTI PRICE AVERAGE OF 53.42/BBL, VS PRIOR FORECAST 52.21/BBL; 2027 FORECAST OF 49.34/BBL (PVS 50.36/BBL)
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EIA SEES 2026 BRENT PRICE AVERAGE OF 57.69/BBL, VS PRIOR FORECAST 55.87/BBL; 2027 FORECAST OF 53/BBL (PVS 54.02/BBL)
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EXPANDED US LICENSES EXPECTED TO RESTORE VENEZUELA CRUDE OIL PRODUCTION TO PRE-BLOCKADE LEVELS BY MID-2026 - EIA
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US WASDE CORN END STOCKS FEB: 2.127B (EST 2.227B; PREV 2.227B) || SOYBEAN END STOCKS: 350M (EST 350M; PREV 350M) || TOTAL WHEAT END STOCKS: 931M (EST 926M; PREV 926M) || COTTON END STOCKS: 4.40M (EST 4.20M; PREV 4.20M)
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Alphabet Priced GBP5.5 Bln Debt Offering In 5 Parts:
- GBP750 Mln 3Y FXD At +45
- GBP1.25 Bln 6Y FXD At +55
- GBP1 Bln 15Y FXD At +55
- GBP1.25 Bln 32Y FXD At +60
- GBP1 Bln 100Y FXD At +120
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EIA Says It Does Not Expect OPEC+ To Increase Production Next Year
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FED'S HAMMACK: REGULATORS DON'T HAVE GREAT INSIGHT INTO FAST-GROWING PRIVATE CREDIT.

FED'S HAMMACK: THE US GOVERNMENT IS ON AN UNSUSTAINABLE FISCAL PATH.
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FED'S HAMMACK: I AM WATCHING FOR A BUILD-UP OF LEVERAGE IN THE TREASURY MARKET.

FED'S HAMMACK: MANY BANKS STILL NOT SET UP TO USE DISCOUNT WINDOW, WHICH MAKES SENSE FOR SOME FIRMS.
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FED'S HAMMACK: THE FED WANTS TO MAKE THE DISCOUNT WINDOW EASIER TO USE.
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WBD CONFIRMS RECEIPT OF FURTHER AMENDED UNSOLICITED TENDER OFFER FROM PARAMOUNT SKYDANCE; WILL CAREFULLY REVIEW OFFER, BOARD NOT MODIFYING RECOMMENDATION ON NETFLIX MERGER AGREEMENT.
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COINBASE GLOBAL SAYS SOME USERS MAY FACE DELAYS IN ALGORAND (ALGO) SENDS AND RECEIVES.
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