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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.
MNI View: No Rabbits from the Hat; Focus on Gilt Issuance
Note that this corrects Morgan Stanley's financing requirement number for 2023/24.
- There is little expectation that Hunt will deliver ‘rabbits from the hat' in the form of notable tax cuts or public sector spending hikes. The focus for investors may therefore be more on the gilt remit and the economic projections from the OBR as well as the underlying assumptions used.
- We discuss what this means for the remit, the maturity split and outline which new gilts we expect to see issued in the upcoming fiscal year.
- We also discuss the political implications.
- Finally, we summarise key analyst views.
For the full document see:
UK_Budget_Preview_Mar23_Update.pdf
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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