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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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MNI POLICY: NBH Set For Second 50Bp Cut, H2 Outlook Less Clear
EGBs-GILTS: Long End Strengthens
The long end rally has very tentatively resumed Monday after a pause late last week, with the Bund and Gilt curves bull flattening. Periphery spreads a little tighter in the early going.
- Very little on the schedule today, with no key data and no bond issuance; ECB's de Guindos speaks at 1000BST.
- Overnight, ECB's Lagarde signaled that the upcoming meeting will have "some interesting variations and changes", and said she expects the current bond-buying plan to run "at least" until March 2022 but could then be followed by a "transition into a new format."
- Some focus on UK PM Johnson press conference at 1700BST, at which he's due to confirm most legal restrictions related to Covid-19 will end on 19 July.
Latest levels:
- Sep Bund futures (RX) up 27 ticks at 174.17 (L: 173.91 / H: 174.19)
- Sep Gilt futures (G) up 27 ticks at 129.04 (L: 128.76 / H: 129.11)
- Sep BTP futures (IK) up 39 ticks at 152.61 (L: 152.25 / H: 152.63)
- Italy / German 10-Yr spread 1.4bps tighter at 104.2bps
To read the full story
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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.