MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

RBA SAYS SOME UPSIDE INFLATION RISKS HAVE EASED.

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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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CREDIT UPDATE: € Credit Close

CREDIT UPDATE
  • Bunds were little changed over the morning. Despite slightly higher-than-expected German CPI rates rallied a little in the afternoon with lower US house prices. Gains pared back a little despite higher JOLTS. DBRs / USTs close -2 / -1bp.
  • Stocks fared better in Europe with SXP / SXXP left flat/+0.6%. €IG issuers close +0.5% led by Financials. Notable movers include StanChart +7%, Merck & Co -9%, Corning -8%.
  • €IG cash closes unchanged. ANESM widened 4-5bp following earnings. VW has been soft 2 sessions in a row, possibly on nerves into earnings Thursday. ELOFR was looking at a 4th straight drop before a turn intraday, to close as much as 2.75pts up.
  • IG primary saw just Lloyds print a holdCo deal with a drive-by from Crown in the upper end of HY.
  • CDS closes a touch wider with Main / XO at 55.3 / 299, +0.4/+1bp.
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