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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI EUROPEAN OPEN: A$ & Local Yields Surge Following Jobs Data
A renewed risk-off environment with.....>
EGB SUMMARY: A renewed risk-off environment with equities under pressure has
core EGBs trading stronger and periphery EGBs weaker.
- Dec 18 Bund future is up 28 ticks at 159.62, early high of 159.73 today.
German curve is bull flattening slightly, 2-Yr yield down 1.3bps at -0.602%,
5-Yr down 1.5bps at -0.154%, 10-Yr down 2bps at 0.428%.
- OATs likewise a little higher, Dec18 future up 21 ticks at 151.23.
- With equities hitting fresh multi-month/year lows (EuroStoxx50 has fallen to
new low since Dec 2016), following on from Asian trading, periphery EGB spreads
are widening: Italy 10Yr/Bunds out 2.8bps at 307bps, Spain up 1.2bps at 126bps,
Portugal out 1bps at 157.5bps, Greece out 4.3bps at 392.8bps.
- Italian BTP futures have recovered losses at the open but remain slightly
weaker, Dec18 down 2 ticks at 120.81, low of 120.15. Latest headline from La
Stampa via RTRS is that Rome hopes ECB would buy Italian bonds if need be.
- Thin data/speaker calendar in EMU today. EU Commission likely to decide
Tuesday on a request/demand for Italy to resubmit its budget.
To read the full story
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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.