MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

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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SWEDEN: Policies To Support Households Announced Ahead Of Sep 19 Budget

SWEDEN

Finance Minister Svantesson announced SEK18bln of measures to assist households in 2025, which will be presented as part of the Autumn budget due on September 19. The policies will form part of the “around SEK60bln” of unfunded fiscal measures announced last month. As such, 10-year SGB spreads to Bunds are slightly tighter today (-1bps at -19.6bps at typing), and the SGB curve has bull steepened a little. 

  • Today’s announcement includes income tax cuts for those earning between SEK16k-40k per annum and lower taxes for pensioners (to be applied at the start of next year).
  • Svantesson also announced the introduction of a tax-free investment vehicle for households.
  • On Tuesday, the Finance Ministry also pledged SEK15bln of infrastructure funding for 2025-2027, as well as the abolition of a tax on air travel (also part of the aforementioned SEK60bln of fiscal measures).
  • The full budget will contain further details on the Government’s proposed measures, which will feed into the National Debt Office revised fiscal /issuance projections in November.
  • Tomorrow, we receive monthly budget balance data for August.
CEEMEABulletSwedenGlobalFixed Income BulletsRegionMarkets
CEEMEABulletSwedenGlobalFixed Income BulletsRegionMarkets

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