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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.
TRANSPORTATION
Lufthansa (LHA GY) curve tightening rapidly even in face of another strike.
- AFP is reporting the Ver.di union is calling another strike on Weds 7-Feb, this time ground staff after last week’s airport security (and public transport) walk-out.
- We wrote last week that rising oil prices was adding to the news of the strike then and the big drop in oil over the last few days is comfortably offsetting the industrial action on the ground.
- Much as LHA’s credit has traded well this year, the premium it previously held to AirFrance-KLM (AF FP) shows little sign of reasserting itself and the big three flag carriers continue to trade in lock-step (see graphic).
Bundestag elections are happening on 11-Feb, which we assume is linked to the strike actions.
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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