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Global Macro
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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors
MNI POLITICAL RISK - Thune Eyes 'Deficit-Negative' Legislation
Equities Roundup: SPX Above Resistance, Financials Lagging
- US stocks holding modestly higher in the second half, SPX Eminis trading at 4077.25 above resistance of 4073.75 (Mar 22 high) after finishing above the 50-day EMA of 4021.12 in the prior session.
- A clear break of 4073.75 would strengthen bullish conditions and signal scope for a climb towards the next key resistance level of 4119.50, the Mar 6 high.
- On the downside, key short-term support lies at 3937.00, the Mar 24 low. A break of this support would be bearish. Initial support lies at 4005.39, the 20-day EMA.
- Current sector leaders are Real Estate, Information Technology and Consumer Discretionary sector shares outperforming. After rebounding the last couple sessions, Financial sector shares, particularly regional banks are trading weaker on the day
- KBW Bank index (BKX) is trading near midday low at 81.21 (-1.11) - all index components are trading weaker in the second half, M&T Bank (MTB), PNC Financial Services (PNC) and Northern Trust (NTRS) shares underperforming.
- Making headlines: The White House has published a fact sheet urging, "Regulators to reverse Trump Administration weakening of common-sense safeguards and supervision for large regional banks."
- Statement: "[Biden] is committed to 'continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.'"
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.