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Why MNI
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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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A continued rebound in European.........>
EGB SUMMARY: A continued rebound in European equities is weighing on EGBs more
or less across the board, with core EGBs down most.
- The Mar 19 Bund future is down 28 ticks at 163.68, in the middle of a fairly
narrow trading range of 163.5-163.90. The 2-Yr yield is up 0.8bps at -0.576%,
10-Yr is up 1.2bps at 0.233%.
- BTPs are also lower, with the Mar 19 future down 14 ticks at 126.13, and 2-Yr
yield up 0.9bps at 0.518%. Spreads vs Bunds largely flat for Italy.
- Other periphery EGBs faring better, Spain in 1.3bps vs 10-yr Bunds, Portugal
down 1.7bps and Greece outperforming down 2.9bps.
- Supply a dominant theme this morning, with Germany selling E0.4bln of Apr-30
linkers, Austria allotting E1.1bln in Feb-28/Feb-47 RAGBs, and the Netherlands
tapping Jul-23 DSL for E1.55bln.
- Belgium also syndicating new 10-yr benchmark Jun-29 OLO, books closed above
E28.5bln; size of E6bln; pricing in range from MS+10 area, according to BBG.
- Largely soft data out today, incl German Nov industrial production and EZ Dec
confidence indicators all missing expectations.
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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.