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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.
EMERGING MARKETS
- Global liquidity continues to stimulate asset prices globally, with EM financials (MXEF0FN Index) up over 55% since their low reached in March 2020, currently testing key resistance at 351.30, which represents its 61.8% Fibo retracement of the following range: 224.30 (Low reached during the March 2020 panic) and 429.80 , high reached in the end of January 2018 when liquidity reached its peak in the EM market (pre covid).
- A break above that level would open the door for a move up to 366.10, January 2020 high.
- As a reminder, EM financials are still 'cheap' relative to EM equities (from a value perspective), trading at a 45% discount relative to the EM MSCI index looking at the relative price-to-book ratios (1.1 P/B for financials vs. 2.1 for MSCI EM Index).
Source: Bloomberg/MNI
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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