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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- Poland continues to be at the bottom of the League, currently offering the second lowest real yield among the EM world (-2.8%) following the recent drop in the 10Y yield.
- The 10Y real yield is also deeply negative in Hungary (-2.6%) as inflation continues to surprise positively, which will push the NBH to raise its benchmark rate by another 30bps next week (July 27).
- China still stands at the bottom of the League, currently offering a 10Y real yield of nearly -6% when we adjust by PPI inflation. While inflationary pressures have continued to intensified in the EM market, China long-term bond yields have been falling (following the global trend) as uncertainty about the economic recovery has been surging.•
- At the top of the League, we still find Indonesia and South Africa, currently offering a 10Y real yield of 5% and 4.5%, respectively. We saw that CPI inflation decelerated slightly in SA in June to 4.9%, from 5.2% the previous month.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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