MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% 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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Fed’s Jefferson & Harker Signal June Pause

FED

Fed comments on Wednesday clearly advocated for a pause at the June 14 meeting to give the central bank time to assess the economic impact of its cumulative tightening to date and effect of recent banking turmoil. FOMC member Jefferson, who has been nominated to take over as vice chair, said that staying on hold in June would give the Fed some time. This Friday’s payroll report will be a key input and if it prints very strong could derail intentions to pause in June.

  • “Skipping a rate hike at a coming meeting would allow the committee to see more data before making decisions about the extent of additional policy firming,” Jefferson said.
  • Jefferson’s view was reiterated by Philadelphia Fed’s Harker (current FOMC member). He also suggested that the FOMC could hike every second meeting if needed to contain inflation.
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