MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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APAC Credit Mixed, A$ ABS/RMBS Issuance Continues, Indian Credit Widens

CREDIT UPDATE
  • Regional Asian equities are mixed today, Japanese markets are lower on the back of a stronger Yen, while semiconductor names help support Taiwan & SK equities. In China & HK markets, property has sold off on very little news.
  • Aus Corps 1bps wider, Aus Snr Fins unch, while are Subs are 1bp tighter. Asia IG widens 1-2bps, China & SK IG 1bps wider. While in EM, sovs are 1-2bps tighter in the front to middle of curves as Fed rate cut expectations gain, the long-end is underperforming the moves, while in the credit space, Indian credit is 2-3bps wider as the presidential votes continue being counted.
  • Aus iTraxx CDS 1bps higher at 65bps & Asia Ex-J iTraxx is unchanged at 95bps
  • Rates: Local rates are richer today following moves made by UST post JOLT Jobs data. US Treasury futures are a touch lower in Asia, although ranges have been very tight.
  • Data: Japan nominal wages rose 2.1% vs 1.8% the highest since 1994, while in Australia 1Q GDP rose by 1.1% y/y missing estimates of 1.2% and SK GDP rose by 3.3% y/y also missing estimates of 3.4%
  • Headlines: DaFa Properties’ Wind-Up Hearing Adjourned to June 24, New Suntory 5yr tighten 7bps since issue, BHP Turns to Mediation as Chile Miners Seek Share of Copper Boom
  • Primary Deals: Registry Finance priced a A$400m 7.5yr @ +125bps and a A$350m 10yr @ +140bps, Suntory priced a $500m 5y @ +77bps, Brighte Max launched a A$195m Green Trust 2024-1, Latitude Financial announced a Services NZ Credit Card ABS, HSBC announced a SGD PerpNC5.5 AT1 deal
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