Reply To: Traders Market Weekly: Treasury Debt and Central Bank Balancing Act

#68460
Truman
Participant

China and Japan saw slight November growth in the services sector, according to latest PMI figures, while Australia’s services sector contracted for the second month in a row.

China’s
November Caixin Services PMI 51.5 (expected 50.7; last 50.4)
FT reported that more than eight million borrowers in China are in default, eclipsing a prior record of 5.7 million from early 2020.

Japan’s
November Tokyo CPI 2.6% yr/yr (last 3.3%) and Core CPI 2.3% yr/yr (expected 2.4%; last 2.7%).
November Services PMI 50.8 (expected 51.7; last 51.6)

Japan’s Core Tokyo CPI was up 2.3% yr/yr in November, representing the slowest growth rate since July 2022.

South Korea’s
November CPI -0.6% m/m (expected -0.2%; last 0.3%); 3.3% yr/yr (expected 3.7%; last 3.8%).
Q3 GDP 0.6% qtr/qtr, as expected (last 0.6%); 1.4% yr/yr (last 0.9%)

India’s
November Services PMI 56.9 (expected 58.0; last 58.4)

Singapore’s
October Retail Sales -0.8% m/m (last -1.6%); -0.1% yr/yr (last 0.8%)

Hong Kong’s
November Manufacturing PMI 50.1 (last 48.9)

Australia’s
November Services PMI 46.0 (expected 46.3; last 47.9).
Q3 Current Account deficit AUD200 mln (expected surplus of AUD3.1 bln; last surplus of AUD7.8 bln)
The Reserve Bank of Australia left its cash rate at 4.35%, as expected, noting that potential additional tightening will hinge on incoming inflation figures.

Reserve Bank of Australia Leaves Rates Unchanged at 4.35%, Leans Dovish