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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 AccessEuropean Bank Weakness Spills into US Pre-Market Trade
- European banking weakness spilling well over into US pre-market trade, putting the likes of JPM (-1%), Wells Fargo (-1.4%), Citi (-1.3%) and Morgan Stanley (-1.1%) all lower pre-market.
- Moves stemming from persistent weakness across European banks, with German names among the sharpest decliners (Deutsche Bank down 12%, Commerzbank down 9%) and at fresh daily lows at typing.
- CDS spreads remain a particular focus, with Deutsche Bank 5y CDS topping the highest levels of 2022 earlier today as another indicator of underlying banking stresses.
- While not the core driver, a DoJ announcement that Credit Suisse & UBS were being investigated for any evidence of helping clients skirt Russian sanctions added further weight given the fragility of the sector at present.
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.