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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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European sovereign bonds have rallied this morning and curves have bull flattened alongside weaker trading in equities.
- Brexit tension continues to mount as both sides continue to warn of the difficulty in getting a deal over the line in the coming days. The EU's chief Brexit negotiator Michel Barnier sressed that he 'cannot guarantee' a trade deal. Cable has been under pressure this morning, losing 1.4% on the day.
- Gilts have outperformed with EGBs, particularly at the longer end. Cash yields are 3-6bp lower on the day.
- The bund curve has bull flattened with the 2s30s spread 2np narrower.
- OATs have firmed with cash yields 1-3bp lower.
- BTPs have similarly edged higher with yields 1-2bp lower on the day.
- Supply this morning came from Germany (Bubills, EUR1.285bn allotted). France will sell 3-/6-/12-month BTFs for EUR5.2-6.4bn.
- The European data calendar was light this morning.
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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.