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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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- €IG is skewed tighter led by HEIBOS lines (-16-30), Rolls-Royce (-13) after S&P upgrade, VFC (-4-7) continuing equity led turnaround and Tapestry (31s +0.4pts) on 101 call chances repricing. Movers in HY were the HEIBOS perp's (+1-3pts). Only >1pt weakness was the CABBCO 28s.
- €IG equities are +0.1% (SXXP +0.4%, SPX -0.5%) no sector moving more than 1% in either direction with similar low vol in equities; AIA +6%, and TD -3% both moving on earnings. iTraxx continuing to sit range-bound this week, little changed today at 53.4/292.9.
- Belly bunds on track for +5bp close, French August PMI's coming firm moved us a tad. US data was uneventful with weekly claims coming in-line and PMI's were mixed; services firmer but employment commentary a tad weak. Some hawkish support from Fed Schmid ('25 voter). UST's similar +6bps in the 5Y.
- $IG cash is ~0.5bps tighter as supply slows down there (3 issuers). No issuance in our markets but mandate out for €Benchmark 5.5Y from TAG Immobilien (RE). Mondelez is pricing a 10Y in $s today.
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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.