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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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Free AccessMNI China Daily Summary: Monday, November 25
A Touch Cheaper
T-Notes have drifted lower in early Asia-Pac dealing, perhaps (at least partially) linked to the downtick in Aussie bonds. The contract last sits -0-00+ at 131-19+, while cash trade has seen some twist steepening of the curve, with 10+-Year paper cheapening by ~1.0bp on the day. A reminder that there is plenty of local risk evident on Tuesday, with U.S. CPI, 30-Year Tsy supply and the latest Fed Tsy buying schedule all set to be released. Re: the latter, last week's comments from SOMA chief Logan have stoked speculation surrounding the potential for the Fed to lift the size of its 20-Year Tsy purchases, although around half of the initial Logan-inspired round of 20-Year outperformance (as measured by the 10-/20-/30-Year butterfly) has unwound.
- Recent BBG headlines crossed noting that Tencent is set to increase its global medium term note program limit to $30bn (from $20bn, with ~$18bn currently outstanding), also proposing the issuance of a bond, although the tech giant doesn't give details/size re: the proposed round of bond issuance.
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.