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

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

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

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

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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Greenback Moderately Firmer As Russia Suspends Strategic Arms Treaty

EMERGING MARKETS
  • Russia: In a major speech in Moscow, President Vladimir Putin claimed that the West was responsible for "fuelling the Ukrainian conflict." Putin has also announced that Russia will suspend participation in Strategic Arms Treaty. The withdrawal from the New Start arms-control treaty would mean nuclear inspectors from US would not be able to inspect Russian sites, and vice versa, removing a key element of transparency.
  • Each of the French, German, and Eurozone composite PMIs beat expectations (though services did the heavy lifting, with manufacturing disappointing), followed by a much stronger-than-expected UK print which has sent GBP to the top of the G10 FX rankings on Tuesday.
  • China’s central bank should avoid overly expansionary monetary easing and make only temporary use of its targeted tools given the economy could grow at up to 6% this year as pent-up demand fuels a recovery, a former People’s Bank of China adviser told MNI.
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