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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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Free AccessJ.P.Morgan Believe 30s Require Concession Ahead Of Supply
J.P.Morgan note that Thursday will see the "Treasury auction $24bn 30-year bonds, unchanged in size from the last reopening auction in July. Since the August auction, 30-year yields initially declined as much as 17bp before partially retracing the move and are now trading 9p below the August auction stop. Moreover, the 10s/30s yield curve has flattened by 5bp over the period and now appears 13bp too flat relative to our fair value estimate, more than twice the standard error of the model. Overall, long-end valuations remain rich, and we think the auction will require some concession in order to be digested smoothly."
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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.