MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

MNI: GERMANY Q3 FINAL GDP 0.1% Q/Q (VS FCST 0.2%)

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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US: Thune Elected Republican Senate Leader

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Senator John Thune (R-SD) has been elected leader of the Senate Republican caucus, defeating senators Rick Scott (R-FL) and John Cornyn (R-TX) in two rounds of secret ballot voting. In January 2025, when lawmakers return to Washington for the 119th Congress, Thune will assume the role of Senate Majority Leader. He will be tasked with rallying support for President-elect Trump's legislative agenda in the upper chamber and setting the agenda for executive and judicial branch nominations.

  • Thune will lead a 53-47 majority in the Senate. The three-seat buffer will give Thune strong leverage to work around senators Lisa Murkowski (R-AL) and Susan Collins (R-ME) - two moderate Republicans who may have operated as a centrist block on Republican legislation, as Democrats Joe Manchin and Krysten Sinema did during the first half of Biden's term.
  • Thune will assume the role with considerable experience managing Senate proceedings, having acted as proxy leader for Senator Mitch McConnell (R-KY) during his health problems for much of the last year.
  • The Hill notes that Thune has, "pledged to hold regular meetings with Speaker Mike Johnson (R-LA) to improve coordination with House Republicans and with Vice President-elect JD Vance to stay in sync with the Trump White House," suggesting a more coherent legislative for Trump during his second term. 
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Senator John Thune (R-SD) has been elected leader of the Senate Republican caucus, defeating senators Rick Scott (R-FL) and John Cornyn (R-TX) in two rounds of secret ballot voting. In January 2025, when lawmakers return to Washington for the 119th Congress, Thune will assume the role of Senate Majority Leader. He will be tasked with rallying support for President-elect Trump's legislative agenda in the upper chamber and setting the agenda for executive and judicial branch nominations.

  • Thune will lead a 53-47 majority in the Senate. The three-seat buffer will give Thune strong leverage to work around senators Lisa Murkowski (R-AL) and Susan Collins (R-ME) - two moderate Republicans who may have operated as a centrist block on Republican legislation, as Democrats Joe Manchin and Krysten Sinema did during the first half of Biden's term.
  • Thune will assume the role with considerable experience managing Senate proceedings, having acted as proxy leader for Senator Mitch McConnell (R-KY) during his health problems for much of the last year.
  • The Hill notes that Thune has, "pledged to hold regular meetings with Speaker Mike Johnson (R-LA) to improve coordination with House Republicans and with Vice President-elect JD Vance to stay in sync with the Trump White House," suggesting a more coherent legislative for Trump during his second term.