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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Record Drop In Multi-Unit Housing Permits In Dec

CANADA DATA
  • Dec Residential building permits -18% to CAD5.7b; -16% YOY. Multi-unit -31% or -CAD1.3b.
  • Total building permits -14% MOM to CAD9.2b the biggest drop since Apr 2023 and the lowest monthly level since Oct 2020; -15% YOY.
  • Non-residential -7% MOM to CAD3.6b; -13% YOY.
  • Employment in construction -0.9% in Dec and advance estimate for GDP also suggests construction sector declined in Dec.
  • Q4 2023 permits -9% QOQ to CAD31.3b, the lowest quarterly level since Q3 2021.
  • In 2023 building permits -3.2%, in real terms -8.9%. Residential sector posted second consecutive annual decline with -16% in real terms while institutional permits rose from healthcare investments.
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