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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US TSYS: /STIR: Tsys Off Highs Following Data, 75bp Of Fed Cuts Priced For '25

US TSYS
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A strong unrounded supercore PCE print (+0.36% M/M) and firmer-than-expected pending home sales applies some light pressure to Tsys.

  • Yields last 2.5-4.5bp lower on the day, intermediates outperform.
  • TY futures consolidate the bulk of their rally, H5 last 110-23+ vs. post-data lows of 110-22.
  • Fed funds show a slightly shallower easing cycle through ’25 vs. post-08:30 NY data levels, although still fully discounts 75bp of cuts over that horizon.
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A strong unrounded supercore PCE print (+0.36% M/M) and firmer-than-expected pending home sales applies some light pressure to Tsys.

  • Yields last 2.5-4.5bp lower on the day, intermediates outperform.
  • TY futures consolidate the bulk of their rally, H5 last 110-23+ vs. post-data lows of 110-22.
  • Fed funds show a slightly shallower easing cycle through ’25 vs. post-08:30 NY data levels, although still fully discounts 75bp of cuts over that horizon.