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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Narrow Ranges In Asia

US TSYS

TYZ3 deals at 107-25, -0-02, a 0-08 range has been observed on volume of 155k.

  • Cash tsys sit 12-16bps cheaper across the major benchmarks, the belly and the long end are leading the bid.
  • TY firmed in early dealing, however Monday's highs remained intact and Tsys ticked away from session highs.
  • The move lower didn't follow through and tsys held in narrow ranges for the remainder of the Asian session.
  • Flow wise a block buyer in TY (5k lots) was the highlight.
  • There is a thin docket in Europe on Tuesday, further out we have Wholesale Inventories and NY Fed 1-Yr Inflation Expectations.
  • There are a slew of Fed speakers due including Gov Waller and Minneapolis Fed President Kashkari. The latest 3-Year Supply is due.
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