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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 AccessBofA Recommend OATei 2029/2053 Real Curve Flattener
Bank of America believe that “the near-term carry appeal of real curve steepeners in EUR linkers should be resisted. Yes, they carry well to, say, a 3-month horizon, but the prospective carry to a 1-year horizon for real flatteners is far greater. And we regard a 1-year horizon as more important anyway, being seasonally neutral relative to the inception date.”
- They go on to suggest that “the 5s30s OATei real curve looks too steep relative to short maturity real rates. This is at the heart of the carry story. Some might argue that there's been a regime shift - that the neutral real rate has risen, so a 1y real €STR rate of 1.25% is not that high and the real curve can steepen - but we beg to differ.”
- As a result, they recommend an OATei 2029/2053 real curve flattener.
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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.