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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.
HEALTHCARE
Grifols (GRF SM); Qube Research has announced a short position in the equity.
- BBG is reporting a new short position of 0.5% of the equity held by Qube, a London-based quant firm that spun out of Credit Suisse in 2018. It also holds short positions in VW (VOW GY) and Deutsche (DBK GY) worth USD1bn, acc to BBG.
- There’s little fundamental news today but ShanghaiRAAS, the firm whose stake GRF is selling to satisfy 2025 debt repayments, has received positive proxy votes from a couple of shareholders ahead of the 7-Feb EGM. These all appear basic and procedural but at least there’s no negative here.
- Grifols’ cash curve is relatively unmoved today; the key ’25 bond (GRFSM 3.2 05/01/25) has recovered some form from its wides two weeks ago but still trades well away from the undisturbed level (see graphic).
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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