MNI China Daily Summary: Tuesday, Dec 3

MNI BRIEF: China-Based UK Firms Facing Challenges

MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1996 Tue; -1.92% Y/Y

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MNI: US REDBOOK: NOV STORE SALES +5.5% V YR AGO MO

MNI: SWISS NOV CPI -0.1% M/M, +0.7% Y/Y

MNI: TURKEY NOV CPI +2.24% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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Cheaper In Sync With Core Global FI

AUSSIE BONDS

Aussie bonds are just off session lows, tracking the cheapening in core global FI markets that has accelerated heading into European hours.

  • Cash ACGBs run 3.0-4.5bp cheaper across the curve, with 3s leading the way lower.
  • YM is -4.8, comfortably through its overnight session low, while XM is -3.8, also through its overnight base. EFPs have widened at the margin, while Bills run 1 to 3 ticks cheaper through the reds.
  • Futures roll activity has provided a notable boost to futures volume.
  • Tuesday’s domestic data docket will be headlined by CBA household spending, monthly Westpac consumer confidence, NAB business confidence and weekly ANZ-Roy Morgan consumer confidence, with A$100mn of Feb-50 index-linked paper due to be auctioned by the AOFM as well.
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