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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.
CONSUMER STAPLES
Archer-Daniels (ADM US), again, has one of the worst-performing bonds in the EuroIG index in the wake of Monday night’s CFO departure and probe into the Nutrition business.
- Its traded EUR bond (ADM 1 09/12/25) is 13bp wider (vs. EuroIG index barely 1bp lower) even though the equity traded broadly sideways last night in the US.
- S&P has placed the issuer rating on “CW Negative”, Moody’s has it under review for downgrade but there’s little new news at this stage (other than the usual formation of class suits in the US).
- The credit has traded wider through most of the immediate peers, implying the market has both made its mind up about downgrades but also that this will be a meaningful economic impact in the medium term.
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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