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Policy
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Global Macro
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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 POLITICAL RISK - Trump Announces Raft Of Key Nominations
BRIEF: EU-Mercosur Deal In Final Negotiations - EC
Post-LIBOR Settle Update: Reflecting Higher for Longer
Lead quarterly EDU2 gains slightly, +0.010 to 96.605 even after latest 3M LIBOR set' climbs +0.01757 to new 14Y high: 3.09971% (+0.03014/wk).
- Mild consolidation amid ongoing debate over breadth of hikes from the Fed and ECB next month, while US sees return of ADP private employ data w/ new methodology this morning ahead Fri's Aug NFP (+300k est).
- That said, market pricing appears to support "higher for longer" as balance of Whites (EDZ2-EDM3) trade +0.010 to -0.020, Reds through Greens (EDU3-EDM5) -0.020-0.035, Blues through Golds (EDU5-EDM7) -0.035-0.050, Greens outperforming.
- Current inversion pricing: Mar'23/Jun'23 -0.020; calendar spds: EDZ2/EDZ3 at -0.315, EDH3/EDH4 at -0.565. Inversion flattens out in Gold Sep'27/Dec'27 trading +0.010.
- Tuesday's option roundup: Better overall volumes, mixed trade as underlying rates see-saw on volatile first half, short end buffeted by renewed speculation over 75bps hike in September as hawkish ECB policy talk filters through US markets.
To read the full story
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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.