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 NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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 With Flow Likely In The Driving Seat Ahead

US TSYS
  • Cash Tsys trade marginally richer as the longer end sees a light bid. It more generally consolidates Friday’s post-US PPI sell-off, with that price action along with preliminary OI data indicating short setting outweighing long covering ahead of the weekend.
  • Today sees a particularly light summer session with no data, Fedspeak or note issuance, with flow/headlines likely the main culprits for price action ahead. Greater attention is on tomorrow’s retail sales and Wednesday’s FOMC minutes.
  • 2YY -0.4bp at 4.891%, 5YY -0.5bp at 4.296%, 10YY -0.2bp at 4.150% and 30YY -1.1bp 4.250%.
  • TYU3 trades 2 ticks higher at 110-08 having lifted off a low of 109-30+ on the Asia open, which now forms initial support above a bear trigger at 109-24 (Aug 4 low). Volumes are on the low side at 240k.
  • Bill issuance: US Tsy $69B 13W, $62B 26W Bill auctions – 1130ET
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