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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.
BASIC INDUSTRIES
- Since issuing with ~5bp NIC in March, SGOFP bonds have outperformed CRHID (Baa1/BBB+/BBB+).
- Investors can now swich from SGOFP 3.625 04/34 into CRHID 4.25 07/35 for a 22bp Z pickup, from 8bp post issuance. While the curve extension is worth ~6bp, the curves trade 0-10bp apart at shorter maturities.
- No fundamental issues to report with either; SGOFP recently made a small acquisition. CRH benefits from exposure to the North America infrastructure market.
- Investors looking to reduce France exposure may want to consider the switch.
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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