MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate 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

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

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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Goldman Sachs Say Financial Pressures Are Likely To Remain Intense

ARGENTINA
  • After the first-round result, investors’ attention will turn its focus to candidate announcements and potential endorsements, according to Goldman Sachs. When it comes to Mr. Massa, given his capacity as Finance Minister and candidates, policy announcements will be key. Policy missteps are something that Argentina cannot afford at this juncture. For Mr. Milei, any announcement of cabinet positions in an eventual government, for example the finance minister, will be key.
  • On the second point, announcements or endorsements made by Ms. Bullrich and former president Mauricio Macri (Juntos por El Cambio) will be key.
  • Given the poor track record of polls uncertainty will remain elevated into the second-round election. Most polls significantly missed changes in voters support in favor of Mr. Milei ahead of the PASO in August and Mr. Massa this time around. As such, financial pressures are likely to remain intense and pressure on the exchange will persist.
  • The dynamics of Peso-denominated term deposits, in their view, will be critical for financial stability. GS also note the next debate will be on November 12.
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