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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.
BONDS
The reaction to the BoC move is reminiscent of the RBA's surprisingly small 25bp hike on Oct 4 that kickstarted a one-day global FI rally on speculation that it could mark a turning point in the global tightening cycle.
- Today's post-BoC rally is showing some signs of petering out - but global bond futures have already hit session highs.
- Both then and today, core FI had rallied strongly the day prior to the decision, with respective decisions adding fuel to the fire in the immediate aftermath. See charts below - first is Oct 4 (with arrow pointing to RBA decision), and the second is today (with arrow pointing to BoC decision).
Source: BBG, MNI
Source: BBG, MNI
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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