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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
BMO (BMO: A2/A-/AA-) is issuing senior unsecured, we see fair value at MS+85-90bp area.
- BMOis issuing a EUR benchmark 6NC5 senior unsecured with IPT at MS+120-125bp. Expected ratings are A2/A-/AA-.
- BMO only has one EUR senior unsecured out and it trades broadly inline with TD Bank and marginally wide of the big two Americans (JPM and BoA). This issue should trade marginally wide of the big Americans (and it’s a less well-known borrower in this market) and also tight of the NACN 3.75% which is a notch weaker rated. We see fair value at MS+85-90bp area.
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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