MNI China Daily Summary: Tuesday, December 31

MNI China Press Digest Dec 31: PBOC, Panda Bonds, EVs

MNI: PBOC Net Injects CNY93.6 Bln via OMO Tues

CHINA DEC MANUFACTURING PMI 50.1 VS 50.3 IN NOV

MNI: PBOC Sets Yuan Parity Lower At 7.1884 Tues; -2.65% Y/Y

MNI: China CFETS Yuan Index Down 0.13% In Week of Dec 27

MNI:US OCT FHFA HPI SA +0.4% V +0.7% SEP; +4.5% Y/Y

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

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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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EMERGING MARKETS: Global News: November 25

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • US (WSJ) – In his first interview following his selection, Bessent said his policy priority will be to deliver on Trump's various tax-cut pledges. Those include making his first-term cuts permanent, and eliminating taxes on tips, social-security benefits and overtime pay. Enacting tariffs and cutting spending will also be a focus, he said, as will be "maintaining the status of the dollar as the world's reserve currency."
  • ISRAEL (BBG) – Israel is potentially days away from a cease-fire deal with Lebanon’s Hezbollah, the Israeli ambassador to the US said, following a new round of shuttle diplomacy by a senior envoy for the outgoing Biden administration. “We are close to a deal,” Michael Herzog told Israel’s Army Radio on Monday. “It could happen within days.”
  • EU (MNI) – The net effects from protectionism following Donald Trump's election will be negative for the global economy, ECB chief economist Philip Lane said in an interview published on Monday, although he said there were two way risks for the eurozone. "If the global economy is more protectionist, this will impair the growth rate of the European economy, and that will be likely to reduce inflationary pressures. On the other hand, if there is a lot of protectionism, import prices may be higher”, he said.
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  • US (WSJ) – In his first interview following his selection, Bessent said his policy priority will be to deliver on Trump's various tax-cut pledges. Those include making his first-term cuts permanent, and eliminating taxes on tips, social-security benefits and overtime pay. Enacting tariffs and cutting spending will also be a focus, he said, as will be "maintaining the status of the dollar as the world's reserve currency."
  • ISRAEL (BBG) – Israel is potentially days away from a cease-fire deal with Lebanon’s Hezbollah, the Israeli ambassador to the US said, following a new round of shuttle diplomacy by a senior envoy for the outgoing Biden administration. “We are close to a deal,” Michael Herzog told Israel’s Army Radio on Monday. “It could happen within days.”
  • EU (MNI) – The net effects from protectionism following Donald Trump's election will be negative for the global economy, ECB chief economist Philip Lane said in an interview published on Monday, although he said there were two way risks for the eurozone. "If the global economy is more protectionist, this will impair the growth rate of the European economy, and that will be likely to reduce inflationary pressures. On the other hand, if there is a lot of protectionism, import prices may be higher”, he said.