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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.
CROSS ASSET
We remains in fairly tight ranges across assets (Govie, Equities, FX), with street waiting for the US NFP.
- Risk so far is tilted to the upside, with stocks holding onto gains.
- Stoxx600 hovers around the all time record high at 452.50 which we printed on the 1st June, now at 451.5.
- Bank stocks (SX7E) are struggling somewhat, down 0.22%.
- Main upside initial target for Bank stocks comes at pre covid high at 102.81, A challenge through the latter would open to 107.22 (61.8% retrace of the 2018-2020 fall (see chart)
- Risk on and underpinned Govies, saw USD unwind some of its overnight bid, to now trade mixed, albeit close to flat in G10s.
- Up 0.17% vs CHF and down 0.11% vs NZD.
Chart source: Bloomberg
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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