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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
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Emerging Markets
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Commodities
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Credit
Real time insight of credit markets
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Data
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM
MNI BRIEF: SNB Cuts Policy Rate By 50 BP To 0.5%
MNI EUROPEAN MARKETS ANALYSIS: ECB Expected To Cut Rates Later
EUR Market Wrap
- 2y/10y bunds closed +8bp/+6bp after the hawkish US CPI print caused pricing of 2024 ECB cuts to fall close to 8bps to under 80bps for the year with ~20bp priced in for June (2bps less than day before).
- Noting overnight reports of an “imminent” Iranian attack on Israel. March FOMC Minutes reflected concerns that inflation’s progress toward its 2 per cent target might have stalled, and restrictive monetary policy may need to be maintained for longer than anticipated.
- Main/XO closed +1bp/+7bp having opened tighter before widening on the US print. €IG/€HY ended flat/-6.5bp bringing WoW moves to -3bp/-9bp. Energy the only sector in the green yesterday at -1bp – Utils still the WoW underperformer at -1bp.
- SXXP closed broadly flat, selling off on US CPI before moving higher over the US session with Banks +0.9%, Real Estate -1.6% and Utils -1.2%. Notable movers included chocolate-maker Barry Callebout +11% on volumes and cocoa resilience, Evotec -7% and BAWAG -6%.
- Asian stocks mixed but mostly slightly lower while Stoxx 50 futures are flat. Up today we have:
GMT/Local | Impact | Country | Event |
0600/0800 | ** | NO | Norway GDP |
0800/1000 | * | IT | Industrial Production |
1215/1415 | *** | EU | ECB Deposit Rate |
1215/1415 | *** | EU | ECB Main Refi Rate |
1215/1415 | *** | EU | ECB Marginal Lending Rate |
1230/0830 | *** | US | Jobless Claims |
1230/0830 | ** | US | WASDE Weekly Import/Export |
1230/0830 | *** | US | PPI |
1245/1445 | EU | ECB Monetary Policy Press Conference | |
1245/0845 | US | New York Fed's John Williams | |
1400/1000 | US | Richmond Fed's Tom Barkin | |
1430/1030 | ** | US | Natural Gas Stocks |
1530/1130 | ** | US | US Bill 04 Week Treasury Auction Result |
1530/1130 | * | US | US Bill 08 Week Treasury Auction Result |
1600/1200 | *** | US | USDA Crop Estimates - WASDE |
1600/1200 | US | Boston Fed's Susan Collins | |
1630/1730 | UK | BOE's Greene at Delphi Economic Forum on Greece | |
1700/1300 | *** | US | US Treasury Auction Result for 30 Year Bond |
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.