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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 AccessMNI Credit Weekly: Le Vendredi Noir
MNI: Canada Apr-Sept Budget Deficit Widens On Spending
Firmer Services CPI Outweighs Bund Rally
Competing forces noted at the gilt open, with the firmer-than-expected UK services CPI reading outweighing the spill over from a rally in Bunds.
- That leaves gilt futures -11 at 98.60, after the contract initially pierced yesterday’s high at the open.
- Friday’s high remains intact, while bulls are still in technical control.
- Meanwhile, initial firm support is 97.57, 20-day EMA.
- Cash gilt yields are 2.5-3.5bp higher across the curve, light bear flattening seen.
- SONIA futures stick within early ranges, with the strip twist flattening.
- This morning’s data presents a hawkish outcome for services CPI vs. BoE forecasts, which will factor into MPC discussions in the run up to tomorrow’s monetary policy decision.
- Our full preview of that event can be found here.
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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.