EM ASIA CREDIT: Hyundai Motor (HYUCAP, A3/NR/A-) in robotics collaboration

TYH5 is dealing at 108-23, +0-08 from NY closing levels, in today’s Asia-Pac session. 

• US stock futures are dealing lower ahead of key earnings week, with the S&P 500 down 0.9% and the Nasdaq down ~0.50%.
• “In a social media post on Sunday, Trump said he ordered an emergency 25% tariff on all Colombian goods coming into the US, which will be raised to 50% in a week. Oil, gold, coffee and flowers top the list of exports, according to Colombia’s tax authorities.” (per BBG)
• Cash bonds are dealing 2-5bps richer in today’s Asia-Pac session, with a flattening bias, after finishing Friday mildly stronger.
• The US Treasury will auction $69 billion of two-year notes and $70 billion of five-year debt later Monday.
• Focus this week is the FOMC policy announcement on Wednesday.

China’s eight major industries, which include ferrous, non-ferrous and construction sectors, have seen electricity demand grow by 43.5% since the start of the 14th Five-Year Plan, demonstrating the nation’s progress in industrial upgrading, according to Jiang Debin, deputy director at the China Electricity Council. The country’s electricity consumption is expected to increase about 6% this year, a recent report from the China Electricity Council showed. Electricity’s share of total energy demand will reach about 34% in 2030, up from 29% last year, the report noted. (Source: Yicai)

Shenzhen’s GDP increased 5.8% y/y in 2024, with primary, secondary and tertiary industries up 1.5%, 8.3% and 4.3% y/y, according to data from the city's Bureau of Statistics. The added value of computer, communication and other electronic equipment sectors grew 11.0% y/y, with 3D printing equipment, industrial robots up 35.8%, 31.8% y/y. Total retail sales of consumer goods rose 1.1% y/y. (Source: Yicai)