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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 BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Shrugging Off The Reflation Trade
Treasuries are a little weaker overnight Tuesday, having edged higher from Asia-Pac lows. Most of the action has been outside the FI space in a facsimile of Monday's early reflation trade: equities are gaining (~eminis +0.8%), the dollar is weaker (-0.3%) and oil's broken higher.
- Yesterday's strong PMIs, news of the Biden transition proceeding, and optimism over COVID vaccines and Brexit negotiations all contributing to a risk-on tone.
- Main data highlight is Nov Conference Board consumer confidence at 1000ET.
- We also get regional Fed indices. Nov Philly Fed nonmanuf. was supposed to be released at 0830ET but has been published on their website (general activity showed decline to 5.3 from 25.3 in Oct). Nov Richmond Fed at 1000ET.
- St Louis Fed Pres Bullard speaks at 1100ET, NY Fed's Williams at 1200ET, and Vice Chair Clarida at 1245ET.
- In supply, at 1130ET we get $60B of 41-/118-day bills, then at 1300ET: $24B 2-Yr FRN and $56B 7-Yr Note auctions.
- NY Fed to buy ~$2.425B of 1-7.5-Yr TIPS.
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.