MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% 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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Rally On Conte's Coalition Comments

BTP

Front BTP futures have rallied over 50 ticks in the past hour with 10-Yr spreads/Bunds dropping 3.5bps on comments from PM Conte that he is working on a new coalition pact that would last until the end of the legislature. This would help assuage concerns of an imminent gov't collapse.

  • Coalition partner Renzi due to give a press conference at 16:30GMT, w PM Conte and his gov't speaking at 19:30GMT.
  • The 10-Yr BTP yield has dropped more than 5bps but Bunds have kept up to some extent.
  • Front BTPs testing resistance at 151.70, Jan 12 high; next resistance almost 100 ticks higher, 152.67, the trend high print, Jan 8 and the bull trigger.
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