MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% 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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Marginally Richer In Asia

US TSYS

TYZ3 deals at 110-06+, +0-07, a 0-11+ range has been observed on volume of ~92k.

  • Cash tsys sit ~2bps richer across the major benchmarks.
  • A move higher in tsys amid volatile early trade was seen alongside pressure on USD/JPY as Finance Minister Suzuki reiterated that Japan won't rule out any options to address excessive FX moves.
  • Gains were marginally pared and tsys dealt narrow ranges for the remainder of the session as little macro news flow crossed.
  • This morning Dallas Fed President Logan noted the Fed could well need to tighten monetary policy further in order to bring U.S. inflation sustainably back to the central bank’s 2% target, although policymakers can now afford to proceed more cautiously.
  • In Europe today we have the final read of German CPI for August. Further out we have VC Barr due to cross and Wholesale Trade.
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