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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.
CROSS ASSET
- Across European equity markets, France's CAC-40 is the notable underperformer, drifting around 1% against 0.2% losses for German and European markets. Banks are among the poorest performers in the index, with SocGen, Credit Agricole and BNP Paribas off 3 to 5% apiece.
- Bond markets are showing similar fluctuations, with the OAT market underperforming broader European bonds. The FR/GE 10y yield spread has cleared 50bps and is now at its widest since early 2020 and the depths of the COVID-19 pandemic.
Figure 1: FR/GE 10y yield spread at new post-pandemic highs
Source: MNI/Bloomberg
- Betting odds markets show a persistent drift in the implied probability of a Macron victory, which has slipped below 80% from above 90% this time last week. Meanwhile, Marine Le Pen's implied odds have nearly doubled, rising to 20% from 11% a week previously.
Figure 2: Betting markets trim implied odds of Macron victory
Source: MNI/PredictIt
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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