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Why MNI
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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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Free AccessMNI EUROPEAN MARKETS ANALYSIS: China Equities Lower Post CEWC
MNI EUROPEAN OPEN: Sharp Fall In China Bond Yields Continues
EGB/Gilt: Powell Comments Underpin FI Sell-Off
European government bonds have traded lower this morning in the aftermath of Fed Chair Powell's comments yesterday indicating that the central bank is prepared to be more aggressive in taming inflation.
- There is still limited tangible signs of a peace deal being reached between Moscow and Kyiv, while US President Joe Biden has warned that there are signs that Russia is considering using chemical weapons.
- The gilt curve has bear flattened. Cash yields have pushed up 2-4bp with the curve 2bp flatter.
- The bund curve has similarly flattened with the 2s30s spread trading down 3bp.
- The OAT curve has twist flattened with the 2s30s spread narrowing 4bp.
- It is a similar story for BTPs where the curve is 5bp flatter.
- Supply this morning came from Germany (Bobl, EUR3.325bn allotted), the Netherlands (DSL, EUR2.5bn), Austria (ATBs, EUR1.512bn). In addition EUR10bn of a 10Y NGEU bond and EUR2.17bn of a 15Y SURE bond were sold through syndication.
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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.