MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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EUR MARKET WRAP

CREDIT UPDATE
  • Bunds are 2-3bps richer after an initial pullback from best levels lost steam - the morning's firmness coming from the dovish RTRS ECB sources piece overnight, alongside follow-through from a soft Tokyo CPI and solid demand at last night's 7Y UST auction.
  • Main/XO are -1bp/-3.5bp in a relatively low vol morning for the indices with Main now flat YTD and XO just 7bps higher. FICM showing €IG/€HY -0.5/+0.5bp with Healthcare outperforming at -1bp as Satorius and Lonza bonds outperform as flagged.
  • SXXP is +0.9% with Tech at -1% and TelCo’s -0.5% after Telia retreated 3.5% on missed FCF guidance though their EUR spreads are streaming muted with <0.5bp of widening at most maturities.
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