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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.
US-EU
- 5Y inflation swaps have pulled back off earlier session lows today for both the US and EU but consolidate recent large declines.
- The 2.34% for the US is -18bps ytd and the 2.27% for the EU is -47bps ytd, with similar moves compared to Dec averages.
- In both cases, 5Y inflation swaps have now fallen below 5Y5Y values, something that has been the case since mid-Dec for the US (albeit more meaningfully from this year) but only this week for the EU.
- These 5Y5Y-5Y spreads of +22bps and +8bps are approaching more typical pre-pandemic levels but much of the lifting in the EU has been done by the 5Y5Y holding at notably higher levels, further helping justify rate hikes. The EU 5Y5Y of 2.35% is 85bps above the 2018-19 average compared to 30bps higher in the US.
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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