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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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- IPT: BMW EUR Benchmark; 4.5Y MS+75a, 8.5Y MS+105a.
- We see FV at 38a, 67a.
- IPTs start slightly tighter than MBGGR new issues last week, which started with 35-38bp NIP at IPT and priced 3-bp final NIP.
- BMW secondary 2-3 wider today.
- BMW results last week were a non-event https://marketnews.com/bmw-a2-a-1q24-results. The sector has framed Q1 as a trough quarter, leaving risk for the full year somewhat elevated.
- We have a slight preference for BMW credit over MBGGR here.
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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