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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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SWAPS: Commerzbank: ASW Capitulation
Commerzbank write “swap spreads are capitulating, struggling to find a bottom even after spreads have now fully erased the great ASW-widening which started in October 2021. The Schatz-spread vs. €STR is even testing the €QE-lows.”
- “Moreover, weak performance of 30y Bunds as well as the high feed-through into SSAs (the new 10y KFW for example is trading on new highs at +15bp) once more suggest that it’s not just about cheapening collateral.”
- “So it looks like our theories on changing free float preventing a return to €STR+ ASW-levels will soon be put to the test.”
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.