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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 EUROPEAN MARKETS ANALYSIS: China Equities Lower Post CEWC
MNI EUROPEAN OPEN: Sharp Fall In China Bond Yields Continues
MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths
Price Signal Summary - Bear Cycle In Gilts Extends
- In the FI space, a bear cycle in Bund futures, that started off the May 16 high of 132.11, remains in play. Today’s move to a fresh cycle low reinforces this theme. The contract has breached the key support and bear trigger at 129.53, the Apr 25 low. This confirms a resumption of the downtrend that started late December last year and opens 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing. Initial resistance is at 130.69, the 20-day EMA.
- Gilt futures remain soft following the recent strong sell-off. The contract has traded through the 97.00 handle and breached last week’s low at 96.60 (May 24). The extension suggests scope for 96.00, and a support around 95.87, the May 1 low. Initial resistance to watch is 97.44, the May 23 high. A break of this level would allow for a stronger near-term recovery, potentially towards resistance at 98.12, the May 21 high.
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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.