MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

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

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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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Marginally Cheaper In Asia

US TSYS

TYZ3 deals at 107-26+, -0-01, a 0-05 range has been observed on volume of ~68k.

  • Cash tsys sit ~2bps cheaper across the major benchmarks.
  • Tsys have ticked lower, albeit in narrow ranges, through today's Asian session with participants perhaps using Thursday's richening as an opportunity to enter fresh short positions.
  • There was little reaction to Feds Barkin who noted that policymakers have time to determine if they need to do more work to cool inflation and that the labour market may offer some insight.
  • On the docket today we have US consumer spending, wholesale inventories and University of Michigan consumer sentiment.
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