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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.
MARKET INSIGHT
Worth keeping an eye on Eurozone 5y5y inflation swaps here after they have hit their highest intraday levels since 2014 today, hitting a high of 2.17%. This was above Friday's high of 2.11% and breached the intradays highs just below 2.13% seen in October and January.
- The driver is energy with oil moving above $125/bbl (with Brent having breached $130/bbl overnight) while European natgas (Dutch TTE) is now trading at E/MWh340 after first breaching E/MWh200 on Friday.
- The 5y5y inflation swap tends to be the preferred metric for market-based medium-term inflation expectations for ECB Governing Council members, so will be closely watched ahead of the ECB meeting on Thursday.
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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