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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.
CREDIT SUPPLY
ABN Amro (ABNANV: Baa1/BBB/A) issuing covered today; we see fair value around MS+10bp area.
- ABN is issuing EUR benchmark 3yrs covered with IPT at MS+20bp area. Expected ratings are: Aaa/AAA.
- ABN results (7-Aug) beat on loan losses and guidance was upgraded for both revenues and loan losses. Index spreads have tightened 12bp since results (€IG banks -8bp) and the equity has outperformed by 3pp, too.
- ABN has a bond at 3.3yrs (ABNANV 0.89% ‘27) trading at z+11.5bp which runs back towards a fair value around MS+10bp area, we feel.
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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