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

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% 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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Tsys Futures Erased Morning's Gains

US TSYS
  • Treasury futures have erased the morning gains, there doesn't seem much of a catalyst for the move, TUU4 is just above overnight lows at 102-16 1/4, while TYU4 is trading at 110-26 just off the US session lows of 110-23+.
  • Looking at technical levels, TYU4 is trading just above initial support at 110-22+ (20-day EMA), while resistance is 111-04+ (200-day EMA), above here 111-15 (July 17 high)
  • Cash treasury curve has pushed wider this morning, yields are about 0.5bp higher with the 10y at 4.246%
  • The futures market is now fully pricing in a rate cut in September, with cumulative 66.5bps of cuts into year-end.
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