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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Midday Equity Roundup: Relief Rally Extends

US STOCKS

Stocks making strong gains, SPX eminis turning session highs (ESH2 around 4376.0), relief rally partially based on Fed keeping cool, getting heads back into more prosaic risk metrics like monetary policy and away from geopolitical headlines on Russia/Ukraine where evaluating/weighing knock-on effects/cost of war, sanctions, assistance etc are harder to price in (though ceasefire talk always a positive)

  • No single headline for stocks though financials are seeing nice bounce after yesterday's drubbing, bank financial sector +3.06%.
  • Individual share leaders: Signature Bank (SBNY) surging 34%, Silicon Valley Bank (SIVB) up nearly 20%.
  • Safe to get back in the water? Or just a window of opportunity? Possibly the latter as high-grade corporate debt issuance surges with a dozen names on the docket, see 1108ET bullet for details, after $14.4B priced late Tuesday -- the first since last week Wednesday as market uncertainty kept issuers sidelined.
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