MNI China Daily Summary: Thursday, December 12

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MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

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FX Credit Line Auctions, Lula’s Lead Narrows in Poll

BRAZIL
  • Central Bank has announced a FX credit line auction of up to $1b between 10:20am-10:25am local time; settlement dates of purchases will be on February 2, March 2. BCB also holds FX line auctions to roll over contracts due Nov. 3. Auction will accept up to $3b between 10:20am-10:25am.
  • Sao Paulo unexpectedly fell to Bolsonaro in the first round. Now Lula’s campaign is rushing to shore up support in the state ahead of the presidential runoff.
    • Lula returned to his industrial roots in Sao Bernardo do Campo to reboot his bid for Brazil’s presidency. He chose the satellite city on Sao Paulo’s outskirts for a rally kick-starting his campaign for the runoff.
  • The latest Poder360 poll showed Lula at 52% versus Bolsonaro’s 48% of valid votes in Brazil Runoff, unchanged from the previous poll.
  • However, Lula decreased 2pp of voter intention to 47%, while incumbent Jair Bolsonaro gained 1pp to reach 42%, within the error margin, according to a Quaest survey commissioned by Genial brokerage firm.
    • Datafolha are due to release new electoral poll on the presidential race later today.
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