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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.
TECHNOLOGY
- Infineon’s equity is the best performing DAX constituent and the third best performing equity amongst €IG issuers sitting 4% higher DoD against a marginally lower move in the broader SXXP.
- EUR spreads are flat DoD and have traded in a tight range against peers since the start of March after the rally on their S&P upgrade to BBB+ ran out of steam.
- We like the credit but don’t see many positive catalysts on the horizon – S&P are looking for a 40% EBITDA margin to upgrade while stating they see a margin around or slightly above 30% over the coming years. Given weak Q1 results and downward revisions to FY24 guidance, we don’t see much scope for outperformance over the MT. Q2 results 07 May.
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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