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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.
EGBS
The sizeable widening of BTP spreads today has been somewhat at odds with recent trends: the prior 5 sessions, as ECB tightening expectations have softened, the BTP/Bund spread had narrowed.
- But today, with no discernable change in ECB expectations, BTP spreads have widened sharply. (The chart below shows the Mar22-Dec22 Euribor implied spread against BTP spreads.)
- The periphery spread move is probably attributable to Ukraine-Russia headlines dragging down broader risk assets, therefore.
- The absence of downward movement in ECB hike pricing today is possibly explained by this morning's strong PMI readings which could help tip the ECB a little closer to tightening once the geopolitical clouds dissipate.
Source: BBG
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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