The 10-year active bonds of China inter-bank bond market expanded strongly in the afternoon, and the yield fell below 1.85% and continued to set a new record low.On December 10th, it was reported that Yizi International, a snack and candy company, was exploring the acquisition of Hershey, a well-known chocolate manufacturer in the United States. This potential transaction is expected to create a food giant with a total sales of nearly $50 billion. People familiar with the matter said that Yizi had made preliminary contact on a possible merger. By the end of last week, the market value of Yizi was about $84 billion, compared with $35 billion at Hershey. People familiar with the matter said that the consultation was at an early stage and it was uncertain whether an agreement would be reached.Turkey initiated the sunset review investigation of safeguard measures for Iranian float glass. According to China Trade Relief Information Network, on December 7, the Turkish Ministry of Trade issued Announcement No.2024/10, saying that the third sunset review investigation of safeguard measures was initiated for float glass originating in Iran at the request of domestic Turkish manufacturers; At the same time, it is suggested to levy a temporary safeguard measure tax of USD 36/ton on the products involved for 200 days from December 12, 2024, and the implementation of the measures shall be subject to the relevant tax collection order of the President of Turkey. The Turkish tax codes of the products involved are 70.04, 70.05 and 70.06. The final ruling will be made within nine months, except for another extension (up to six months). The announcement shall take effect as of the date of promulgation.
TSMC's November sales amounted to NT$ 276.06 billion, a year-on-year increase of 34%. In the first 11 months of this year, the accumulated sales amounted to NT$ 2.62 trillion, a year-on-year increase of 31.8%.HSBC: The Bank of Japan may raise interest rates next week. Economists at HSBC Global Research pointed out that the Bank of Japan may raise interest rates at its meeting in December. Frederic Neumann and Jun Takazawa, the bank's economists, said that the recent hawkish remarks by officials reflected both foreign exchange fluctuations and the improvement of economic data. Most members of the Bank of Japan's Policy Committee may have enough confidence that wages will continue to increase generally next year and will choose to raise interest rates before December and January, when Trump takes office. Japan's economy and prices are still on the normal track, and wages, consumption and service inflation have all made progress. HSBC predicts that the Bank of Japan will raise interest rates by 25 basis points again in the first quarter of 2026, bringing the policy interest rate to 1%.Investors asked the Bank of India to allow the sale of national bonds as zero coupon bond. According to people familiar with the matter, investors urged the Bank of India to allow the state government debt to be converted into zero-coupon bonds. At a recent meeting with the Bank of India, insurance companies dominated the demand for facilities to register interest on national bonds and separate transactions of securities principal (STRIPS). Currently, the Reserve Bank of India only provides this function for federal debt. STRIPS is a popular product in the United States and other developed markets. It was first released in India in 2010, but it has little effect. However, in recent years, the demand for long-term savings products has increased and sales have surged. One of the people familiar with the matter said that allowing state bills to be converted into so-called divested bonds would give investors an additional spread of 30 to 40 basis points higher than that of similar federal securities. State bonds are illiquid and are usually sold at a higher yield than central government bonds.
HSBC: The Bank of Japan may raise interest rates next week. Economists at HSBC Global Research pointed out that the Bank of Japan may raise interest rates at its meeting in December. Frederic Neumann and Jun Takazawa, the bank's economists, said that the recent hawkish remarks by officials reflected both foreign exchange fluctuations and the improvement of economic data. Most members of the Bank of Japan's Policy Committee may have enough confidence that wages will continue to increase generally next year and will choose to raise interest rates before December and January, when Trump takes office. Japan's economy and prices are still on the normal track, and wages, consumption and service inflation have all made progress. HSBC predicts that the Bank of Japan will raise interest rates by 25 basis points again in the first quarter of 2026, bringing the policy interest rate to 1%.Personal pension products are about to expand greatly, and the debt base, index and active equity funds that meet the standards can all issue Y shares. It is learned from a number of public offerings that the Y shares of personal pension funds are about to expand greatly. The types of funds that can set up Y shares will be expanded from pension FOF to bond funds, index funds, active equity funds and other types. Some insiders said that fund companies do not need to report specific products that want to issue Y shares, and the Ministry of Human Resources and Social Security will uniformly announce the standards (scale, rate, performance, etc.) that can be included in the expansion, and products that meet the standards will naturally be included in the alternative pool. "The first step is to open bond funds, the second step is index funds, and the third step is active equity funds." Many insiders confirmed, but the specific expansion rules will be announced by the CSRC and the Ministry of Human Resources and Social Security. "It is expected this week." (Interface News)