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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Topical Highlights in Today's Bank Earnings (2/3)

EQUITIES

On Markets performance across the quarter:

  • Wells Fargo : Markets revenue higher by 33% Y/Y, driven by structured products, equities, credit and commodities. Offset by lower trading revs in rates.
  • JP Morgan : Markets revenue up 2%, with Fixed Income revenue up 8%, driven by Securitized Products, but partially offset by lower revenue in Rates. Equities down 8%, driven by lower revenue in Derivatives and Cash.
  • Bank of America : Sales, trading rev up 3%, led by equities revenue (up 13%), but offset by softer FICC (down 4%) – driven by weaker trading in rates and credit, but offset by improved trading mortgages and municipals.
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