MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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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Avis Sell-off (Follow-up)

CONSUMER CYCLICALS

Re. some negatives from US CPI that seem to be feeding through to car rental names {CAR/Avis -20%} (B1, BB-; S) & {Hertz -12%} (Caa1, B+, B-; $ only issuer) - our US Economist notes used cars prices surprised somewhat to downside at -3.37% over Jan (analysts on avg. had -2.4%, though ranging from -1.3% to -4.4%) but flags some of this may be normalisation after CPI index diverged higher from Manheim late last yr. Maintenance & repair costs reversed back to +0.7% M/M after -0.2% fall in Dec & Car & truck rental continued falling -1.05% after -1.6% fall last month.

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