MNI: PBOC To Aim To Drive Inflation Higher- Advisors

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MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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CREDIT UPDATE: € Midday Wrap

CREDIT UPDATE
  • Rates are a little higher (+2bp) so far, bund supply weighing slightly before a softer than expected Eurozone PPI brought small support. Treasury yields are unchanged overnight.
  • Stocks are broadly stronger with support from Tesla and Apple lifting the S&P into the close. SPX / SXXP +0/+0.9% currently; the Republican Front narrative continues to build, supporting risk locally. Notable €IG single name movers include Grenke, Sartorius and PostNL with Financials the leading sector.
  • €IG cash is firm with the index 3bp tighter. ERRFP is 20-30 tighter following a detailed rebuttal from the company. ARNDTN (-10 to 12) continues to benefit from momentum following GYCGR issuance.
  • CDS is also tracking tighter with Main / XO -1.5/-6bp.
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