MNI China Daily Summary: Wednesday, December 11

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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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Quiet start to the week's trading and...>

EGB SUMMARY
EGB SUMMARY: Quiet start to the week's trading and the Bund is at 157.02, very
close to where is sat Friday. The 10Y Bund yield is unchanged at 0.648%. Better
bid to the Schatz with the yield -0.9bp at -0.564%.
- Equities are firmer: DAX already 0.7% higher on Monday and follows 1.9% gain
in Hang Seng and 1.7% rise in Nikkei.
- Euro has popped slightly higher in early European trade to 1.234 against
across the board weakness in the USD.
- Renzi has ruled out a PD coalition with M5S. Italian BTPs are weakest in EGB
space today and initially led by the 20-30Y section of the curve, although this
has now moderated. The Bund-BTP 10Y last 1.2bp wider at 137.5bp. There is
Italian supply tomorrow. Shorter end of Spain also fairly weak, although on
Monday all yield movements are small.
- German swap spreads stable. RXM8 invoice spread unchanged at 44bp.
- Coeure says trade war is "the major threat right now".
- Spain to announce Thursday's auction size at 1330GMT today. Should be around
E4-5bln.
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