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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 ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
EUR Market Wrap
- 2y/10y bunds ended Friday +1bp/+4bp after following USTs lower after headline payrolls came in stronger-than-expected. WoW moves stood at +2bp/+10bp.
- Main/XO were +1bp/+4bp bringing WoW moves to flat/+3bp compared to CDX IG/HY +1bp/+9bp WoW.
- €IG/€HY cash closed flat/-1.5bp to give WoW moves of -4bp/+6bp – on the week we saw longer dated €IG spreads outperform (7-10yr spreads -6bp vs. 1-3yr spreads -1bp) while €IG Tech bonds outperformed at -6bp (though still underperforming YTD at -18bp vs. -29bp for wider €IG) while €IG Basic Ind underperformed at -2bp (second worst YTD performer at -21bp).
- SXXP ended Friday -0.8% bringing WoW moves to -1.2% and YTD moves to +6% (vs. -1% and +9% for WoW and YTD SPX moves). YTD we’ve seen Autos, Banks and Tech outperform with gains of 12-15% while Personal Care, Real Estate and Utilities underperform with losses in excess of 5%.
- Asian equities are streaming mixed but broadly higher on NFP-related optimism though CSI 300 underperforming with sentiment weighed upon by a winding up petition for Shimao Group. Brent is trading back below $90. Up this week we have:
GMT/Local | Impact | Country | Event |
2301/0001 | UK | KPMG-REC Jobs Report | |
0130/1130 | ** | AU | Lending Finance Details |
0500/1400 | JP | Economy Watchers Survey | |
0545/0745 | ** | CH | Unemployment |
0600/0800 | ** | DE | Trade Balance |
0600/0800 | ** | DE | Industrial Production |
1530/1630 | UK | BOE's Breeden Panellist at 'Towards the future of the monetary system' | |
1530/1130 | * | US | US Treasury Auction Result for 13 Week Bill |
1530/1130 | * | US | US Treasury Auction Result for 26 Week Bill |
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.