MNI China Daily Summary: Monday, January 13

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CHINA DEC EXPORTS +10.7% Y/Y VS MEDIAN +7.4% Y/Y: CUSTOMS

MNI: PBOC Sets Yuan Parity Lower At 7.1885 Mon; -2.21% Y/Y

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CHINA 2024 EXPORTS +7.1% IN YUAN TERM: CUSTOMS

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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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STIR: $-Bloc Markets Firm After Stronger Than Expected NFPs

STIR
BulletMarketsFixed Income Bullets

In the $-bloc, rate expectations through December 2025 have firmed by 11–17bps following Friday’s stronger-than-expected US non-farm payrolls data for December. The firming has been led by Canada and Australia, where December pricing strengthened by 17bps and 15bps, respectively. The US market saw a 14bps increase, while New Zealand has risen by 11bps. 

  • Looking ahead to December 2025, the projected official rates and cumulative easing across the $-bloc are as follows: US (FOMC): 4.05%, -28bps; Canada (BOC): 2.82%, -43bps; Australia (RBA): 3.75%, -57bps; and New Zealand (RBNZ): 3.02%, -123bps.

  

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In the $-bloc, rate expectations through December 2025 have firmed by 11–17bps following Friday’s stronger-than-expected US non-farm payrolls data for December. The firming has been led by Canada and Australia, where December pricing strengthened by 17bps and 15bps, respectively. The US market saw a 14bps increase, while New Zealand has risen by 11bps. 

  • Looking ahead to December 2025, the projected official rates and cumulative easing across the $-bloc are as follows: US (FOMC): 4.05%, -28bps; Canada (BOC): 2.82%, -43bps; Australia (RBA): 3.75%, -57bps; and New Zealand (RBNZ): 3.02%, -123bps.

  

Keep reading...Show less