MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% 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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Philly Fed Sees Further Inflationary Pressures

DATA REACT

Today's Philly Fed report looks very similar to Empire from earlier this week so has less shock for markets (hence very little reaction in Tsys), but inflationary pressures continued to intensify within the details.


  • The prices paid diffusion increased back to just shy of June's 42-year high whilst prices received was the highest since 1974 (47-year), with a net 63% of firms increasing prices on the month.
  • In the special questions, firms saw their own prices rising a median 5.3% over the next four quarters, up from 5% when last asked in Aug.
  • Employee compensation costs are expected to rise 4.8% over the next four quarters, up from 4.0% in Aug.
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