MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

What to Watch: ADP, PMI, Tsy Refunding, FOMC Rate Annc

US TSYS
  • Cash Tsys firmer but off overnight highs - buffeted by European inflation data. Tsys gapped higher w/ Bunds (TYH4 tapping 112-02 high, 10Y yield below 4% briefly to 3.9899%) after French inflation data came out lower than expected. Rates scaled back support over the last few hours following an uptick in German regional CPI measures.
  • US Data on tap: ADP private employment data (0815ET), Treasury Quarterly Refunding announcement and Employment Cost Index at 0830ET, followed by MNI Chicago PMI at 0945ET.
  • Main focus is on this afternoon's FOMC policy announcement at 1400ET and press conference 30 minutes later. The Federal Reserve will hold rates steady for the 5th time in 6 meetings in January, further cementing expectations that the hiking cycle is over and that the next move will be a cut.
  • Given participants’ pushback against 2024 market rate cut pricing since the December meeting, the main question will be the degree to which the Statement and Chair Powell leave the door open to a rate cut as soon as March.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.