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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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Free AccessEUR Market Wrap
- Bunds ended Friday 3-6bps tighter, initially opening tighter on a lack of hawkish offerings from the BoJ governor while slightly lower Euro area inflation expectations did little to reverse the bridge before another move tighter in the PM in line with USTs in the wake of dovishly-received US PCE. WoW bunds widened by 6-9bps.
- Main/XO closed -2/-11bp to bring the WoW move to -5bp/-20bp compared to -6bp/-25 for CDX IG/HY. €IG/€HY closed flat/+1bp to give WoW moves of -4bp/-5bp with the short-end outperforming in €IG by ~1bp. Financials were the biggest WoW tightener at -5bp with all sectors now tighter MoM except Utilities (broadly flat on the month vs. -3bp for €IG).
- SXXP closed +1.1% on Friday bringing the WoW move to +1.7% (in line with SPX). Chemicals and Autos were the only SXXP sectors in the red on the week at just over -2% and -1% each.
- Asian equities are mixed but broadly higher with CSI 300 & HSI ~3% higher as the property sector surged after CIFI holdings announced an agreement with bondholders regarding offshore liquidity. Stoxx 50 futures are +1.6%. Up today:
GMT/Local | Impact | Country | Event |
0600/0800 | ** | SE | Retail Sales |
0700/0900 | *** | ES | HICP (p) |
0800/1000 | *** | DE | North Rhine Westphalia CPI |
0800/1000 | *** | DE | Bavaria CPI |
0900/1100 | ** | EU | EZ Economic Sentiment Indicator |
0900/1100 | * | EU | Consumer Confidence, Industrial Sentiment |
1200/1400 | *** | DE | HICP (p) |
1430/1030 | ** | US | Dallas Fed manufacturing survey |
1530/1130 | * | US | US Treasury Auction Result for 13 Week Bill |
1530/1130 | * | US | US Treasury Auction Result for 26 Week Bill |
1920/2120 | EU | ECB's De Guindos remarks at Euro50Group Dinner |
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.