MNI China Daily Summary: Wednesday, November 20

MNI BRIEF: Chinese Aluminium Exporters To Renegotiate Prices

MNI BRIEF: BOJ October Real Export Index Falls 4.9% M/M

MNI: PBOC Net Injects CNY69.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1935 Weds; +0.09% Y/Y

CHINA PBOC CONDUCTS CNY302.1 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: EUROZONE SEP CONSTRUCTION OUTPUT -0.1% M/M, -1.6% Y/Y

MNI: GERMANY OCT PRODUCER PRICES -1.1% Y/Y

MNI: UK OCT CPI +0.6% M/M, +2.3% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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JGBs Look Through Initial Rengo Wage Demands, Even As JPY Rallies Further

JGBS

JGB futures have looked through the initial Rengo wage hike demands, even as the JPY firms.

  • The contract is little changed vs. Tokyo closing levels.
  • Wider JGB yields were also little changed on the headlines.
  • A reminder that initial demands were long expected to print over 5% and the final wage hike award is likely to undershoot initial demands e.g. demands of 4.49% resulted in a wage hike of 3.58% in ‘23.
  • Wage data, source reports and BoJ speak have OIS markets pricing ~80% odds of a 10bp hike at the BoJ’s next meeting (decision due March 19) vs. ~50% at yesterday’s close.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank of Japan (BOJ) Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank of Japan (BOJ) Market NewsBulletMarketsFixed Income Bullets

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