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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 UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Additional Cabinet Adjustment, BanRep Minutes Due Tomorrow
- The Colombian peso outperformed yesterday as the market reopened from the holiday on Monday, following Friday’s 50bp BanRep interest rate cut. USDCOP fell by 0.59% to 4128, aided by the decline in US yields and rally in oil prices over recent sessions. BBVA notes that USDCOP seems to be settling into a new range, between 4060 and 4200 since mid-June. They believe that a break in the cross above 4200 would likely need to wait until BanRep accelerates the pace of rate cuts, something they believe could happen in September.
- Meanwhile, President Petro made an additional adjustment to his cabinet, naming Maria Constanza García as transport minister yesterday, replacing William Camargo in the position. On the macro front, no data are due today, with attention on May exports and the BanRep minutes due tomorrow, followed by June CPI next week.
- Goldman Sachs expects the minutes to echo the central bank’s prudent approach to cutting, with focus on discussions around stronger-than-expected activity, potential bumps in the disinflation process ahead and still high core services inflation. Given the split in the Board, attention will also be on discussions around the conditions needed to support an acceleration in the easing pace in the near-term.
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.