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 MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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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Petroperu Says Government Will Provide Financial Support

PERU
  • After seeing its bonds fall sharply yesterday as the Government said it won’t bail out the company, Petroperu put out a statement late Monday saying that the government will provide financial support. This support is related to credit lines and debt rescheduling, Petroperu said, and will help the company to pay its suppliers. Petroperu also said that its new Talara refinery will guarantee the company’s financial improvement, with positive Ebitda projections for 2024.
  • The need to provide financial assistance to Petroperu, as well as the potential impact of El Nino on activity may cause the government to miss its 2% of GDP fiscal deficit ceiling again this year, according to JP Morgan. They expect the deficit to reach 2.2% of GDP this year, which is still below the latest 2.6% of GDP Bloomberg consensus.
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