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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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MNI INTERVIEW2: Poland To Push For EU Defence Fund
EGB/Gilt: Gaining Ground
European sovereign bonds have rallied this morning with gilts leading the charge.
- Gilts yields uniformly 3bp lower on the day. Short sterling futures are 4.0-5.5 ticks lower in reds and greens.
- The ECBs Centeno earlier repeated the official line that inflation remains a 'temporary phenomenon'.
- Bunds have firmed and the curve has marginally bull flattened with the 2s30s spread narrowing by 1bp.
- There has been a sharper flattening of the OAT curve on the back of the short-end trading weaker and the longer end rallying. The 2s30s spread is 4bp narrower on the day.
- BTP cash yields are 1-3bp lower.
- Supply this morning came from France (OATs, EUR7.494bn & Linkers, EUR1.746bn), Spain (Bono/Oblis, EUR4.115bn) and Ireland (IRTBs, EUR750mn).
- The European data slate was slight. Focus today will be on US jobless claims and the Philly Fed update.
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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.