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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Netherlands Q3 funding update: DSL target unchanged, less bills

EGB FUNDING UPDATE
  • DSL funding target: "Around E40bln" - Unchanged versus Q2 update.
  • Cash deficit: E20.3bln - reduced by E9.4bln versus Q2 update
  • Total funding need E78.6bln - reduced by E9.4bln versus Q2 update. This will be reflected in lower bill issuance.
  • "This decrease is mainly driven by underspending and, to a lesser extent, higher than expected tax revenues."
  • "Fluctuations in the funding need continue to be absorbed in the call on the money market."2
  • "The Quarterly Outlook was prepared taking into account the letter to parliament regarding Tennet Germany, sent on 20 June 2024."
  • There will be two auctions in Q3 (MNI had expected 2-3):
    • 9 July: E1.5-2.0bln of the 3.25% Jan-44 Green DSL (ISIN: NL0015001RG8)
    • 10 September: Tap of an existing DSL.
  • There will be 5 DTC auctions held in the quarter.
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