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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 BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
EGB SUMMARY: A very busy session for EGB's,...>
BUNDS: EGB SUMMARY:
A very busy session for EGB's, with some very big moves in price actions.
-Draghi statement summary:
Cuts depo rate 10bps as expected (all other rates unch)
Restart in QE E20bln per month but NOT until November 1st - but to buy for "as
long as necessary" Changes modalities of TLTROs - easing terms
Introduces rate tiering
-During the Q&A:
3 triggers for action:
1) Slowdown is more protracted
2) Risks (e.g. Trade risks) are more persistent
3) Current inflation muted
-Bund initially rallied over 100 ticks during the decision at 12.45BST.
-But we quickly reversed during the presser and on the Tiering details.
-Tiering and multiple explained: More funds held at the ECB can receive 0%
rather than paying the deposit rate.
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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.