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Why MNI
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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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MNI INTERVIEW2: Poland To Push For EU Defence Fund
CHF Buoyed By Calmer Swiss Bank CDS Spreads
- CHF among the strongest currencies in G10 so far Thursday, gaining despite the more positive backdrop for equities - with the pullback in CDS prices for Swiss banks likely lending a hand to the currency as it pares recent losses against both the EUR and USD.
- USD/CHF has shown below S/T uptrendline support drawn off the March low of 0.9072 but a break below 0.9121 is really needed before any resumption of the March downtrend.
- Of note, the SNB VP Schlegel spoke today to NZZ, stating that the SNB 'pushed its limits' when extending liquidity assistance to the bank sector two weeks ago - assistance for which the costs became clearer today with an SNB statement (costs for the liquidity programs range from policy rate +50bps to policy rate +300bps).
- While the details are not unexpected, the statement clarifies the punitive nature of the facilities. SNB's Maechler and Moser speak later today at 1700BST/1200ET.
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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.