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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI EUROPEAN MARKETS ANALYSIS: China Equities Lower Post CEWC
MNI EUROPEAN OPEN: Sharp Fall In China Bond Yields Continues
Govies are favoured as Asian Equities plummets
EGBs extended gains on FTQ (Flight to Quality) flows, after Asian Equities plummeted further during our morning European session.
- The move in Asia spilled over into EU and US Equities.
- Bund has once again tested the initial Yield support -0.442% which equated to 176.30 today.
- We did print a 176.32 high today, and yield was also tested yesterday, down to -0.449% (176.49 in futures).
- Peripherals are mostly wider, with Greece leading by 1bp.
- Gilts are trading inline with EGBs, and the curve traded bull flatter.
- UK 5/30s eye yesterday's low at 69.356, also the flattest level in a year (14/07/2020), now at 69.952.
- US Treasuries saw similar price action, with investors moving into safe haven, after US Equities move into the red.
- US 5/30s is flatter, but trade within yesterday's range.
- Looking ahead, ECB de Cos is the notable speaker.
- On the data front, sees US prelim Durable Goods.
- Earning season continues, today includes, 3M, GE, Alphabet, Visa, Microsoft, Apple and Starbucks.
- Finally, we get US 5yr notes later
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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.