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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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Free AccessOff Intraday Lows Amid Little Meaningful Headline Flow
Core/semi-core EGBs are off intraday lows alongside USTs, but remain weaker on the day.
- Cumulative volumes in Bund, OAT and BTP futures have been lower than average today, with markets keeping one eye on risk events later this week (US CPI on Wednesday, ECB meeting on Thursday).
- ECB-dated OIS contracts price 84bps of cuts through the remainder of ’24 (vs 85bps this morning). Our ECB meeting preview is here.
- Bunds are -38 ticks at 131.84, with today’s price action leaving the March 18 low at 131.54 untested.
- The German and French cash curves continue to show a bear flattening dynamic, while 10-year periphery spreads to Bunds remain a touch tighter today.
- Headline flow has generally been light.
- Tomorrow’s regional calendar is also quiet, though features supply from Belgium, Austria and Germany.
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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.