MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

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MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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US TSYS: Tsys Futures Edge Slightly Lower, Cash Closed For Thanks Giving

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • There isn't much happening in Tsys futures today, however the late move heading into the NY close overnight has somewhat continued, with longer-end contracts underperforming. TU is -00⅝ at 102-23⅞, while the TY is -02+ at 110-21.
  • Cash tsys trading is closed today for Thanksgiving. Overnight the 10yr briefly traded through 4.25%, before closing the session at 4.26%. The 10yr has seen a 24bps tightening since it reached cycle highs of 4.50% on Nov 15th
  • Fed fund futures are pricing in 15.5bps of cuts at the December meeting, 21.8bps of cumulative cuts by Jan, before a full rate cut is priced in for March.
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  • There isn't much happening in Tsys futures today, however the late move heading into the NY close overnight has somewhat continued, with longer-end contracts underperforming. TU is -00⅝ at 102-23⅞, while the TY is -02+ at 110-21.
  • Cash tsys trading is closed today for Thanksgiving. Overnight the 10yr briefly traded through 4.25%, before closing the session at 4.26%. The 10yr has seen a 24bps tightening since it reached cycle highs of 4.50% on Nov 15th
  • Fed fund futures are pricing in 15.5bps of cuts at the December meeting, 21.8bps of cumulative cuts by Jan, before a full rate cut is priced in for March.