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

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

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

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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POLAND: Foreign Minister Calls For More Assertive Stance Towards Russia

POLAND
  • Foreign Minister Radoslaw Sikorski said that the West seems to have forgotten that the Kremlin can be "contained and even defeated" as he used the opportunity to deliver the prestigious Ditchley Annual Lecture to reaffirm his call for a more assertive stance towards Russia. He called on the West to "re-learn how to champion the escalation game," arguing that Vladimir Putin "has already written off" Russia's seized reserve assets but "also doesn’t think we have the fortitude to take hold of them." Separately, Sikorski brushed away speculation that he could seek a position in the European Commission.
  • The second minimum wage hike this year (to PLN4,300/month and to PLN28.10/hour) takes effect from today, following the initial hike implemented on January 1. Talks on next year's adjustment to the minimum wage are ongoing, with the government proposing a 7.6% increase from the beginning of 2025. 
  • S&P Global Manufacturing PMI stayed unchanged at 45.0 in June versus 44.9 expected. The accompanying commentary pointed to "another steep downturn in business conditions."
  • Poland's Finance Ministry said it would offer PLN25bp-45bn of bonds at 5 regular auctions in Q3 and also plans to hold 3 switch auctions during that period.
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