MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% 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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Modestly Cheaper, 2Y Supply To Kick Off Week’s Coupon Tsy Issuance

US TSYS
  • Cash Tsys trade 1.5-2.5bp cheaper, with the sell-off coming in European hours to more than reverse an initial modest bid seen on the BoJ decision. 2s10s increases only slightly on the day to -27.5bps.
  • TYH4 sits just half a tick off lows of 111-07+ (- 08) but has remained within yesterday’s range amidst low volumes of just 220k. The bear cycle is seen remaining in play, with support at 110-26 (Jan 19 low).
  • Pre-market corporate earnings are in the headlines currently, after which headlines/flow are likely to set the tone before focus later in the session on 2Y supply.
  • Data: Philly Fed non-mfg, Jan (0830ET), Richmond Fed mfg, Jan (1000ET)
  • Note/bond issuance: US Tsy $60B 2Y Note auction (91282CJV4) – 1300ET
  • Bills issuance: US Tsy $46B 52W Bill, $75B 42D CMB auctions – 1130ET
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