MNI China Daily Summary: Tuesday, January 14

MNI: ITALY INDUSTRIAL PRODUCTION NOV 0.3% M/M, -1.5% Y/Y WDA

MNI: ITALY INDUSTRIAL PRODUCTION NOV 0.3% M/M, -1.5% Y/Y WDA

MNI BRIEF: PBOC To Ensure Yuan Stable, Ease For Economy: Xuan

MNI BRIEF: China Yields Will Reflect Fundamentals - PBOC

MNI BRIEF: China Dec M1 Decline Narrows, M2 Quickens

EZ/UK Bond Supply Calendar: EU, Greece Syndications

CHINA JAN-DEC NEW LOANS CNY18.09 TRLN VS MEDIAN CNY17.85 TRLN

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

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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MNI Gilt Week Ahead: Taylor and CPI the Highlights

It's been a volatile start to the year for UK markets - we look at the causes and upcoming events
HomepageCEEMEAGlobal IssuanceGlobal Issuance - UKUKMarketsStory
  • It’s been a volatile start to the year for UK markets with 10-year gilt yields reaching their highest levels since 2008 and 30-year gilt yields their highest level since 1998. Both have moved around 30bp higher so far this year and stand around 65-70bp above their December lows at writing. GBPUSD has comfortably breached the 1.2300 support that marked the low of 2024, with GBPUSD making new YTD lows today challenging the 1.2100 level.
  • We look at the drivers of these moves and summarise why we think spending cuts are the most likely outcome here - but we still look for at least 2x25bp cuts in February and May.
  • We also look ahead to the main events of the week, particularly CPI and Alan Taylor's speech.

For the full document including auction previews for the week ahead see: GiltWeekAhead20250113.pdf

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  • It’s been a volatile start to the year for UK markets with 10-year gilt yields reaching their highest levels since 2008 and 30-year gilt yields their highest level since 1998. Both have moved around 30bp higher so far this year and stand around 65-70bp above their December lows at writing. GBPUSD has comfortably breached the 1.2300 support that marked the low of 2024, with GBPUSD making new YTD lows today challenging the 1.2100 level.
  • We look at the drivers of these moves and summarise why we think spending cuts are the most likely outcome here - but we still look for at least 2x25bp cuts in February and May.
  • We also look ahead to the main events of the week, particularly CPI and Alan Taylor's speech.

For the full document including auction previews for the week ahead see: GiltWeekAhead20250113.pdf