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U.S. stocks fell. Nasdaq China Jinlong Index fell more than 3%,iShares China large-cap ETF fell 3.8%, KraneShares CSI China Internet ETF fell 3.9%, and Nasdaq China Jinlong Index fell more than 3%. BILI.O fell by 8%, FUTU.O by 6% and Xpeng Motors by 4%.The New Zealand dollar fell 1% against the US dollar to 0.5804.Bank for International Settlements: Swap spreads are reflecting investors' concerns about excessive bond supply. The Bank for International Settlements (BIS) pointed out that huge government loans are having an impact on the global interest rate market, saying that investors have demanded higher premiums for buying sovereign bonds. In its quarterly report released on Tuesday, the agency pointed out that the swap spreads of various currencies and maturities have narrowed rapidly in recent months, which are "signs of possible oversupply". As investors are worried about huge debt and deficit expansion, the yields of government bonds in the euro zone and Japan have recently exceeded comparable swap rates. This leads to the so-called swap spread becoming negative. Because national debt is usually regarded as a safer investment than interest rate swap, it is unusual for the swap spread to enter the negative range. According to the Bank for International Settlements, the negative swap spread seems to reflect the pressure faced by investors and intermediaries because they need to absorb more government bonds in the near future. In the United States, the swap spreads for some maturities have been negative for many years.

Citigroup: It is estimated that if the exchange rate of the Brazilian real against the US dollar reaches 6.05, Brazil's CPI is expected to rise by 4.8% in 2025.Google (GOOG.O) rose 4.3%, reaching its highest level since July.The SCO Secretariat hosted a reception for the departure of Secretary-General Zhang Ming. "I hope that the Shanghai Cooperation Organization will benefit more people from all countries and let them experience the sense of gain, belonging and happiness in the SCO family." Zhang Ming, Secretary General of the SCO, said on the 10th. Zhang Ming is about to end his term of office. On January 1, 2022, he became the Secretary-General of the SCO for a term of three years. On the 10th, his departure reception was held in Beijing, attended by guests such as diplomatic envoys of SCO countries and Chinese officials. (Zhongxin. com)

Xiaomi responded to the announcement of YU7 early. On December 10th, Xiaomi Auto released a question from a netizen (episode 103). Xiaomi Auto said that Xiaomi YU7 is expected to be officially launched in June and July 2025, and a large-scale road test is currently underway, which will continue the same high-quality delivery of Xiaomi SU7. Generally, the new car will only be announced by the Ministry of Industry and Information Technology 1-2 months before listing. Why did Xiaomi Yuqi announce it so early? Xiaomi Automobile responded: "The announcement so early is to remove heavy camouflage as soon as possible and carry out more rigorous road test verification, such as the most accurate NVH verification, energy consumption test and comprehensive durability test. We will ensure that Xiaomi YU7 will undergo a more comprehensive and detailed long-term large-scale test before the official listing to provide a more stable and reliable product experience. " Xiaomi Auto said that Xiaomi YU7 and Xiaomi SU7 follow the same family-style design language, and they all have a series of common features in body proportion posture, water droplet headlights, halo taillights, smooth and full ripple surfaces and aerodynamic duct design. Of course, as a brand-new SUV model, Xiaomi YU7 has also made innovative attempts in many design details.VESTIS, a supplier of workplace supplies, once rose 9.4%, the highest since May 1. In the news, VESTIS is interested in the acquisition of many companies.The Australian dollar fell 1% against the US dollar to 0.6375.