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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 AccessHigher Yields And Geopolitical Risk Weigh Heavily
- Equities have been increasingly under pressure today, hit by a combination of a small further trimming of Fed rate cut expectations, a more notably push higher in long-term yields (~7bps cheaper) and geopolitical tensions which saw gold earlier clear a key resistance level and with spot currently +1.6% on the day.
- A reasonable bounce after the 20Y Tsy auction traded through proved short-lived, with the S&P e-mini since extending to a new low of 4343.75, currently only a few points higher for -1.2% on the day. Support is still some way off though, at 4299.5 (Oct 10 low).
- Moves lower have come with multiple large sell programs with collections of greater than 1000 name clips in the TICK index.
- The Nasdaq 100 e-mini trades in line at -1.3% as it pulls back from yesterday’s underperformance, whilst the Russell 2000 slips -2.0% for stark underperformance after strong relative gains yesterday.
- Earnings: Some large names still to come with or after the close, including Netflix (~0.4% SPX weighting, 1600ET) and Tesla (2%, after). Tomorrow includes Philip Morris, Union Pacific and AT&T (cumulatively almost 1%) ahead of the open.
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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.