Free Trial
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); notable price action today across asset classes; all noise and the next signal will be around the S-RAAS deal with Haier.
- Gotham (the short seller) put out supplementary questions this morning which, as expected, spooked the market but which we saw as largely repetitive or irrelevant. The equity traded as much as 7% below last night’s close but has returned to down c.2%. The key ’25 bond (GRFSM 3.2 05/01/25) traded as much as 60bp wider but has now retraced about half the fall (see graphic).
- We continue to feel today’s news as all noise, little signal and that the next catalyst for this bond to move would be news around the S-RAAS deal with Haier Group, on which there is no new news yet.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok