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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 AccessCurves Bull Steepen
European government bonds have broadly rallied this morning while regional equities have also pushed higher.
- Bunds have rallied sharply with yields down 6-11bp and the 2s30s spread narrowing 6bp.
- OATs have traced out a similar path with yields down 9-10bp on the day.
- BTP yields are down 5-11bp.
- MNI's policy team earlier published a sources story which is available online and by email: "Both 75, 50BP Still In Play As ECB Readies Hike"
- In an article published for the Eurofi conference, the ECB's Martins Kazaks indicated that the speed of policy rate tightening could be slowed if there is a broad and protracted recession.
- Please refer to email and our website for the MNI ECB Preview.
- Supply this morning came from Germany (ILBs, EUR512mn allotted), Belgium (TCs, EUR2.446bn) and the ESM (Bills, EUR1.499bn). In addition, Italy has launched a EUR6bn 3.35 Mar-35 BTP +5bps via syndication with books closed above EUR40bn.
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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.