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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.Top fund managers say that Trump's tariff plan is influenced or less than expected by the negotiation strategy. Some of the most influential and powerful fund managers in the world believe that the potential extensive tariffs of US President-elect Donald Trump are only negotiation strategies. This was the key message delivered by Jenny Johnson, CEO of Franklin Templeton, and Anne Walsh, Chief Investment Officer of Guggenheim Partners Investment Management, when they spoke at the event "Women, Money and Power" held by Bloomberg in London on Tuesday. "I think tariffs are still more of a negotiation strategy than the inevitable situation we will see," Walsh said. "I think it will be more targeted." Johnson expressed a similar view, adding that such measures are often "inflationary".Yunnan Statistics Bureau: The burden of labor support in Yunnan is relatively light, and the demographic dividend is better than that in the whole country. Recently, the series of reports on the achievements of Yunnan's economic and social development in 75 years in New China released by Yunnan Statistics Bureau concluded that the age structure of Yunnan's population is better than that in the whole country, and the demographic dividend still exists. The population aged 60 and over in Yunnan is 7.92 million, accounting for 16.9%, which is 4.2 percentage points lower than the national average. Among them, the population aged 65 and over is 5.58 million, accounting for 11.9%, which is 3.5 percentage points lower than the national average. The population aging situation is better than the national average. On the whole, the age structure of Yunnan population is better than that of the whole country, and the labor resources are abundant. The total dependency ratio (43.4%) is lower than the national average level (46.5%), the dependency burden of the labor force is relatively lighter than that of the whole country, and the demographic dividend is better than that of the whole country. (澎湃)

Biden's administration is striving to ensure a ceasefire in Gaza before January 20th. CNN quoted people familiar with the matter as saying that the administration led by US President Biden is "working increasingly closely" with officials of the new administration to achieve a ceasefire in Gaza before Trump is sworn in on January 20th.Ren Hongbin, president of the China Council for the Promotion of International Trade, led a delegation to visit Hong Kong. According to the news of the China Council for the Promotion of International Trade, from December 8 to 10, Ren Hongbin, president of the China Council for the Promotion of International Trade, led a delegation to visit Hong Kong, attended the joint meeting of the Mainland-Hong Kong Chamber of Commerce in 2024 and delivered a speech at the symposium of foreign business associations and foreign-funded enterprises in Hong Kong, and prepared to hold the second Guangdong-Hong Kong-Macao Greater Bay Area Development Business Conference. During his visit, Ren Hongbin met with Lee Ka Chiu John, Chief Executive of the Hong Kong Special Administrative Region, and Qi Bin, Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region. He had extensive exchanges with Lin Jianyue, Chairman of the Hong Kong Trade Development Council, and people from the Hong Kong business community. He had an in-depth exchange of views on deepening economic and trade cooperation between the Mainland and Hong Kong. He went to Jardine Matheson Group, HSBC Group, Swire Group and Cathay Group for investigation, and listened to work reports at the Hong Kong Representative Office of the China Council for the Promotion of International Trade and China Patent Agency (Hong Kong) Co., Ltd.The EU advised member states not to give Britain more access to the energy market. According to a document containing a policy position and distributed to EU member states, Brussels advised EU member states not to allow Britain further access to the EU electricity market. The European Commission stated in the document that its "non-selective" principle towards Britain should also be applied to electricity trading, adding that Britain's decision not to rejoin the single market "limited the possibility of considering other options".

The chief financial officer of Goldman Sachs said that it is expected that strategic M&A activities will accelerate in 2025.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.BYD Equation Leopard officially announces titanium series product line, BYD Equation Leopard officially announces titanium series product line. Titanium series is the second largest product series that Equation Leopard will launch after Leopard series, and the first model titanium 3 will be launched in the first half of next year.