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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.Nasdaq China Golden Dragon Index fell to 4%, Nasdaq China Golden Dragon Index fell to 4%, and China ETF fell more than 12% when it tripled its wealth. Fangduoduo fell more than 20%, Tiger Securities fell nearly 12%, Billie Billie fell more than 10%, Netease, Baidu and Pinduoduo fell more than 4%.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 Khartoum State Government of Sudan said on the 10th that the Sudan Rapid Support Force shelled the city of Omdurman in the west of the capital Khartoum that day, killing 65 civilians.Aerial video shows that many Syrian warships were attacked by Israeli troops and emitted smoke. On December 10, local time, Syrian media released aerial video of Latakia port in northwest Syria. The video shows that many Syrian warships emitted smoke or sank during the Israeli attack.Xiaomi responded to the first SUV：YU7 is undergoing a large-scale road test. Regarding the question of when Xiaomi YU7 can be bought, Xiaomi responded that Xiaomi YU7 is expected to be officially listed in June and July 2025, and is currently undergoing a large-scale road test, which will continue the same high-quality delivery of Xiaomi SU7. At the same time, generally, new cars will only be announced by the Ministry of Industry and Information Technology 1-2 months before listing. Why did Xiaomi YU7 announce it so early? Xiaomi said that it 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. Ensure that Xiaomi YU7 undergoes a more comprehensive and detailed long-term large-scale test before it is officially launched.

China and Vietnam announced the signing of an intergovernmental agreement on cross-border standard-gauge railway cooperation projects. On December 10th, the 16th meeting of the China-Vietnam Bilateral Cooperation Steering Committee was held in Beijing. The two sides agreed to give full play to the overall coordinating role of the Steering Committee, actively explore the direction and measures to deepen the building of a community of destiny between China and Vietnam around the implementation of the high-level consensus between the two parties and the two countries, and promote more results. The two sides announced the signing of an intergovernmental agreement on cross-border standard-gauge railway cooperation projects. The meeting also heard a report on the first meeting of the "3+3" strategic dialogue mechanism between China and Vietnam in diplomacy, national defense and public security.U.S. aviation stocks rose, while U.S. aviation stocks rose. Alaska Airlines (ALK.N) rose by 12%, American Airlines (AAL.O) rose by 3.8% and Boeing (BA.N) rose by about 3.1%. The Airline Association predicted that the overall profit and operating income of the industry would increase slightly in 2025.The commodity currency NZD/USD fell by 1.0% to 0.5807.