MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% 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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Equity Roundup: Giving Up Early Gains, Crude Bounce

US STOCKS
Extending lows last few minutes -- possibly related to reports of fires at Aramco oilfield after missile strikes with crude prices bouncing $3 off lows. Markets remain thin on light volumes, prone to outsized moves on smaller axes.
  • Stocks had been extending session highs after scaling back overnight support around the session open -- just as US FI markets gapped lower (30YY surged from appr 2.512% to 2.5767% over 20 minute period, making new highs at 2.641% at the moment).
  • Timing of rate move occurred around the release of IFX headlines: RUSSIAN ARMY TO FOCUS ON TAKING FULL CONTROL OVER DONBAS, however: Open to interpretation on whether that is a positive development (potential for triggering rate sale) or NOT as equities trimmed gains over same period.
  • SPX eminis trading -10.0 at 4502.5 vs. 4538.5 high, when focus was on key resistance of 4578.5 (Feb 9 high). Reversal turns focus to key support of 20-day EMA: well below at 4375.64. Dow trades - 23.48 (-0.07%) at 34683.32, and Nasdaq -157.7 (-1.1%) at 14034.27.
  • SPX leading/lagging sectors: Energy sector surges +2.22%, outpacing Financials (+0.82%). Laggers: Information Technology sector (-1.13%) after making strong gains Thu.
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) +3.01 at 339.24 Chevron (CVX) +2.75 at 197.54 (U.S AUTHORIZE CHEVRON TO OPERATE IN VENEZUELA, Bbg). Laggers: Home Depot (HD) continues to sell off -5.23 at 310.55.
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