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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 closed 7-9bps tighter across the curve after fallout from the softer-than-expected US CPI print helps keep core/semi-core EGBs underpinned and ECB VP de Guindos re-iterated the Bank’s cautious stance at the afternoon’s MNI event, highlighting that “the risks that could derail the disinflation process are clear”. USTs have given back some of yesterday’s gains after Powell stated the "economic outlook is uncertain" while the Fed remains "highly attentive to inflation risks”.
- Main/XO closed -2bp/-9bp back below 53bp/294bp while €IG/€HY ended flat/+2bp to give WoW moves of +2bp/+10bp. IG fins outperformed while Energy lagged while Tech is the only sector tighter WoW.
- SXXP was +1.1% compared to +0.9% for SPX with MoM underperformance now standing at +3.4%. Notable €IG movers include Rentokil +14%, Oracle +13.3%, Whirlpool +6%, National Bank of Canada -6%.
- Asian equity markets are mostly higher, although China markets continue to lag more positive global trends. SX5E futures are +1.2%. Up today:
GMT/Local | Impact | Country | Event |
0700/0900 | *** | ES | HICP (f) |
0900/1100 | ** | EU | Industrial Production |
- | *** | CN | Money Supply |
- | *** | CN | New Loans |
- | *** | CN | Social Financing |
1230/0830 | *** | US | Jobless Claims |
1230/0830 | ** | US | WASDE Weekly Import/Export |
1230/0830 | *** | US | PPI |
1230/0830 | * | CA | Household debt-to-income |
1335/0935 | CA | BOC Deputy Kozicki speaks on balance sheet policies. | |
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 |
1700/1300 | *** | US | US Treasury Auction Result for 30 Year Bond |
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.