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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessJ.P. Morgan Trims Overweight EM FX Position
The US Bank has trimmed its OW in EM FX due to the rebound in US yields, see below for updated positions and trade:
J.P. Morgan: "We stay OW EM FX favouring the high-carry basket, but we have reduced risk in recent weeks amid the back up in US yields.
EMEA EM: We are OW EMEA EM FX in a low-beta portfolio via OW TRY and RON versus UW CZK. In outright trades, we like long EUR/HUF combined with selling OTM calls, USDZAR put spreads and long SEK/CZK.
LatAm: We are OW Latam FX via MXN, BRL and UYU. Stay MW CLP and UW COP.
EM Asia: We remain neutral Asia FX and retain our bias for domestically oriented high yielders. Stay engaged with carry in SGD NEER proxy longs, as well as more defensively oriented long PHP (vs basket) and short CNHINR. We remain positioned for a China rally in ex-China via short CNH vs AUD, SGD, THB ."
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.