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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Quick Roundup, 2Y Yield Sub-4%, Curves Up 50% From Last Wk Lows

US TSY FUTURES
  • Paradigm shift in risk appetite as Silicone Valley Investment Bank's collapse late last week continues to send shock waves across markets.
  • Yield curves bull steepening as short end bid outpaces bonds, 2s10s +28.382 at -61.001 vs. -57.876 high -- approximately 50% off last week's multi-decade inverted low.
  • Tsy 2Y yield slips below 4% to 3.9889% low puts it back near middle of llast September.
  • Short end Eurodollar futures on fire: White pack (EDM3-EDH4) +0.445 to +0.900 as rates price out rate hike expectations, chance of cut by September.
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