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About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Bumper Supply, Good Performances, Little Buyer Indigestion
Bumper issuance this week but good book cover and secondary seemingly taking the flow in its stride. Little sign of any buyer indigestion or wider risk-off attitude.
- It may only be Tuesday afternoon, but it’s been a bumper week in primary. Nine issuers have tapped the market for EUR10.3bn across 12 lines (EUR12.8bn if you include two covered issuers).
- Cover has come in at about 2.7x in aggregate with the Tier 2 sub issuance from Nationwide, Commerz and CredAg leading the numbers there.
- Tightening from IPT were in the high teens for those T2 issues and were in the range of 15-30% for all the fixed coupon issues, aside from Piraeus’s senior pref today (5% from 5.25%).
- Only TD Bank has shown any sort of secondary widening (from FICM) and UBS and CS paper is, in fact, slightly tighter than the market even after yesterday’s issue.
To read the full story
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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.