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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Off Intraday Highs, But Still Supported By Soft UK/DE Data

EGBS

After finding a morning bid following soft German PPI and UK retail sales data, core/semi-core EGBs have drifted away from intraday highs.

  • Bunds are 16 ticks higher at 134.11 , some 40 ticks above today's intraday low of 133.71. A clear break of the 20-day EMA at 135.49 is needed to ease bearish pressure.
  • The details of the German December PPI pointed to further softening of core goods pressures in Europe's largest economy.
  • This release, alongside earlier upticks in European equities has helped periphery spreads to Bunds tighten, with the 10-Year BTP/Bund spread 3.3bps tighter at 154.5bps. Portugal sees its sovereign rating reviewed by DBRS Morningstar after hours, but a change to the current "A" rating is unlikely.
  • The German and French curves have flattened, with the former's yields flat to -2.5bps today.
  • The regional Eurozone data docket is light today and the ECB has entered its pre-meeting quiet period (Lagarde's participation in a Davos panel on "Creating jobs for a new era" has not prompted any meaningful headline flow).
  • Markets look ahead to US UoM inflation expectations and Fed-speak this afternoon.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.