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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
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Commodities
Commodities
Real-time insight of oil & gas markets
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Credit
Credit
Real time insight of credit markets
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Data
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI US Employment Insight, Sep'24: Cooler But Not Sharply So
MNI BRIEF: EU Exposure To Global Trade Break "High" - Draghi
Post-LIBOR Settle Update: Yes, Another New 3M High
Lead quarterly EDM2 trades at 98.227 (+0.0025) after latest 3M LIBOR set' climbs to new 2Y high of 1.74471% +0.02342 (+0.11871/wk).
- Rate hike pricing through year end, holding around four 50bp as balance of Whites through Reds (EDU2-EDH4) trades -0.015-0.025, Greens (EDM4-EDH5) steady to +/-0.005, Blues through Golds (EDM5-EDH7) +0.010-0.035 w/ Golds outperforming.
- Inversion holds to front Reds: low mkt measure of confidence in Fed managing a soft landing/avoiding recession expands to 12.0: Red Sep (EDU3) currently trading 96.425 vs. Red Jun (EDM3) at 96.305. Inversion starts to flatten out (dis-invert) around Blue Mar'26/Gold Jun'27 trading 96.965.
- Thursday option roundup: Aside from a massive conversion strip in Eurodollar options, FI option trade revolved around puts and put spreads ahead of Fri's May CPI.
- Lending $: Eurodollar option volume will see a massive jump in open interest after 90,000 conversion strips: 90k in each of Dec'22/Mar'23/Jun'23 97.00 conversion w/ Jun'23 97.50 conversion, 4.75 total/package. While large, the structure most likely involving one large account lending to another for the duration of the trade. Other Eurodollar trade included 17,200 short Aug 96.25 puts, 13.0-12.5 and 4,300 Blue Jun 96.75 puts, 0.5.
- 5Y Tactical Play For Stronger Than Expected CPI. Paper bought +10,000 wk2 5Y 111/111.25 put spds, 1.5 vs. 111-24.5/0.05%, a relatively cheap data hedge, but w/mkt anticipating 0.7% CPI, actual read would have to be greater than that for the put spd to go bid.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.