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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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MNI Research
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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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MNI: US March Existing Home Sales Fell 4.3% To 4.19M
### EXCLUSIVE: Wells Fargo senior....>
US TSYS/STOCKS: ### EXCLUSIVE: Wells Fargo senior strategist Boris Rjavinksi
told MNI that pension fund month-end stock/bond rebalance need on Oct31 won't be
that great as "if you look at how equities performed vs. bonds, the divergence
was not that large" in October. (Wells Fargo predicts "small pension rebalancing
flows" of roughly $4B-$5B stocks selling vs $4B bond buying at month-end.)
- "The reason why see are seeing these flows is that pensions generally have to
keep a certain allocation to stocks and bonds," he said. "When you have mkts
diverge, such as stocks go one way, and bonds go another way, they have to bring
them back into balance."
- "It's too early to predict how the qtrend/yrend pension fund flows will go,"
he told MNI. "Currently the 10y yld at 2.39% is not far off our year-end target
of 2.50%, so the Treasury market in Q4 may not be as volatile as yrend 2016,
when "bonds sold off and stocks rallied" amid reaction to expected higher
inflation/growth possibilities with US Pres. Trump elected Nov. 2016. "There was
a significant amount that the pension funds needed to do" as "you had a big
rally" in stocks," he added.
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.