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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 AccessAt about 2200GMT, news filtered.........>
EGB SUMMARY: At about 2200GMT, news filtered through of another North Korean
missile launch but the market has become quite immune to such threats. The 10Y
US contract naturally rose but only by 2-32 and this had been surrendered within
the space of 2 hours as the missile passed over Japan and fell into the sea.
- Bunds did open higher on the back of a risk-off feel to markets but that
positive open has faded. The Bund contract declined quickly and sits at the
close from yesterday.
- Peripheral markets are pressured. As we wrote in the Talk from the Trenches
today, political risks are coming to the fore of the market's thinking. Plus, a
possible Fed taper announcement next week would (other things equal) widen
credit spreads.
- Looking ahead sees France announce bonds for next week's auction at around
0900BST. These will be 2-7Y OATs, sources talk of OATei30s OATi25s and
favourites in the linker space.
- Belgium will also announce auction sizes for 7Y, 10Y and 20Y auctions some
time this morning. Estonia hosts a Eurogroup today.
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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.