-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
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
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
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 Global Macro Weekly -
About Us
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.
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: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans
MNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
Sky Strikes Broadband Network Expansion Agreement With BT Rival CityFibre; Not A Spread Mover
NR/BBB/BBB
Not a likely spread mover though relevant to BT’s ongoing line losses to “alt net” providers which took the limelight in their Q2 results which we judged to be mixed on a top line beat but op income softness.
- The Telegraph reports that Sky is to launch broadband services on CityFibre’s network in 2024, expanding beyond BT’s Openreach which hosts Sky’s 5.7m broadband customers. Sky aims to cover 1.3m rural homes via this deal; while there is overlap, the article notes that Sky will mostly expand its customer base in areas that Openreach does not currently cover.
- We’ve flagged weakness in BT’s broadband KPI’s as a source of discussion in recent earnings reports; in Q2 Openreach’s EBITDA was +5.8% YoY driven by ARPU growth of ~6% though with line losses of close to 200k losses (against BBG consensus of <150k) on a weaker new homes and overall broadband market.
- As per the article, CityFibre currently reaches 3.8m premises, targeting 8m by end of 2024 against a backdrop of financial strain with GBP 1.8bn debt; CityFibre saw profitability in Q124 but continues to face consolidation pressure with Virgin Media O2 reportedly having explored a potential acquisition. Virgin Media recently announced plans to offer wholesale access to its network and was reportedly in talks with Sky about a potential deal.
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.