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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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Issuance > Data
Bonds appear to be the poor cousin of equities/FX Tuesday morning in terms of price action, with Bunds and Gilts trading in a 22-23 tick range.
Periphery spreads meanwhile are tightening, with BTPs through Monday's narrowest levels.
Issuance today includes UK selling 0.125% Jul-26 gilt for GBP3.25bn and 1.25% Oct-41 for GBP2.25bn, and Austria tapping 0.0% Jul-24 RAGB and 0.0% Feb-30 RAGB for E1.15bn.
Limited data slate for the rest of the day (Spain Unemp came in well below consensus at -89.8k in Jul vs +20k exp and +5.1k prior); Eurozone Jun PPI at 1000BST.
And no central bank speak; Thursday's BoE meeting still in focus. ** Latest levels:
- Sep Bund futures (RX) up 8 ticks at 177.39 (L: 177.19 / H: 177.41)
- Sep Gilt futures (G) up 2 ticks at 138.51 (L: 138.37 / H: 138.51)
- Italy / German 10-Yr spread 1.8bps tighter at 151.2bps
To read the full story
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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.