MNI China Daily Summary: Monday, January 13

MNI BRIEF: China December Vehicle Sales Up 10.5%

MNI BRIEF: PBOC To Add Forex Reserves Allocation In HK - Pan

MNI BRIEF: China 2024 Oil Imports Down 1.9%

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

MNI BRIEF: China 2024 Exports Grow 5.9% Y/Y

CHINA 2024 EXPORTS +7.1% IN YUAN TERM: CUSTOMS

USDA: CORN STOCKS 12,074M BSL ON JAN 1

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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JGBS: Futures Track Recent Ranges, 10yr Yield Up From Post BoJ Lows

JGBS
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JGB futures rest at 142.45, -.02 versus settlement levels at the Monday lunchtime break. Ranges have been fairly narrow in the first part of Monday trade (142.41-142.63). US TSY futures are also close to unchanged in the first part of Monday trade. 

  • Broadly we sit within Dec ranges to date. Post BoJ highs for the March future rest 142.72. Recent lows were at 141.87, post the hawkish Fed cut earlier last week.
  • Technicals for JGB futures still point south for JGB futures, with eyes on a break sub last week's lows.
  • In the cash JGB space, yields are little changed in the first part of Monday dealing. The 10yr is up around 1.07% levels, off post BoJ lows (near 1.04%), but still seeing upside resistance above 1.10%. Swap yields are a touch higher.
  • The data calendar is largely empty until the services PPI prints on Christmas day. BoJ Governor Ueda also delivers a speech that day. 
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JGB futures rest at 142.45, -.02 versus settlement levels at the Monday lunchtime break. Ranges have been fairly narrow in the first part of Monday trade (142.41-142.63). US TSY futures are also close to unchanged in the first part of Monday trade. 

  • Broadly we sit within Dec ranges to date. Post BoJ highs for the March future rest 142.72. Recent lows were at 141.87, post the hawkish Fed cut earlier last week.
  • Technicals for JGB futures still point south for JGB futures, with eyes on a break sub last week's lows.
  • In the cash JGB space, yields are little changed in the first part of Monday dealing. The 10yr is up around 1.07% levels, off post BoJ lows (near 1.04%), but still seeing upside resistance above 1.10%. Swap yields are a touch higher.
  • The data calendar is largely empty until the services PPI prints on Christmas day. BoJ Governor Ueda also delivers a speech that day.