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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 AccessBunds Pare Gains Following US Data
Bunds pare gains following the latest round of “hawkish” US data, where unit labour costs printed higher than expected and nonfarm productivity came in below consensus.
- Resurfacing headlines on a potential Israel-Hamas ceasefire may have also factored into the sell-off.
- Bunds are now +8 at 130.16, down from an intraday high of 130.71.
- The German cash curve has lightly twist steepened, with 2-year yields 1bp lower today.
- The 10-year BTP/Bund spread has widened almost 2bps over the last hour but remains 1.5bps tighter today at 131.8bps.
- ECB implied rates were little changed by the US data (akin to Fed pricing noted above), with 21bps of cuts priced through the June meeting and 63bps of easing priced through the remainder of ’24.
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.