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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 AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Net Purchases Rebound, But Summer Doldrums Continue
ECB net asset purchases rebounded to E21.6bln in the week ending Aug 6, vs E9.0bln in the prior week. This was driven by PEPP net buys (E16.4bln vs E10.7bln) and a reversal from contraction to expansion for PSPP purchases (E3.3bln vs negative 2.6bln).
- That said, this was the end-lowest total since the start of July and one of the slowest weeks for PEPP buys of the year.
- The previous week's slowdown wasn't seen as anything but the usual summer lull in purchases, and it's unlikely that the most recent week's fairly weak rebound will be of great concern to markets.
ECB Net Asset Purchases W/E | PSPP | Cov Bd | CSPP | ABS | PEPP | TOTAL |
18-Jun-21 | 6.0 | 0.6 | 2.7 | -0.1 | 19.4 | 28.6 |
25-Jun-21 | 7.6 | 0.2 | 0.2 | -0.4 | 24.3 | 31.9 |
2-Jul-21 | -2.6 | 0.0 | 0.5 | 0.1 | 15.7 | 13.7 |
9-Jul-21 | -0.1 | 0.5 | 1.4 | 0.1 | 22.1 | 24.0 |
16-Jul-21 | 3.9 | 0.4 | 1.6 | 0.0 | 22.1 | 27.9 |
23-Jul-21 | 8.3 | 0.6 | 1.1 | 0.0 | 22.8 | 32.8 |
30-Jul-21 | -2.6 | 0.1 | 0.8 | 0.1 | 10.7 | 9.0 |
6-Aug-21 | 3.3 | 0.6 | 1.4 | -0.1 | 16.4 | 21.6 |
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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.