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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.
TECHNOLOGY
- Comms/Tech were -0.2bp/+0.5bp compared to the €IG index into yesterday’s close, bringing YTD underperformance to 8.7bp/-11.3bp.
- No EUR primary for IG TMT this week. Eircom did come to market in the HY space; the B2/B+/BB- deal didn’t look too strong; it was downsized from EUR 400mn to EUR 300mn (corresponding TLB upsized by EUR 100mn) and priced at 5.75% against the 5.75-6% IPT.
- Also a quiet week for rating actions; DT was affirmed at Baa1 by Moody’s today but that was it for TMT this week.
- TDC/DKT spreads outperformed this week, having underperformed the week before after competitor Norlys acquired Ewii's fibre business. We also saw continued strong performance from Oracle and DXC in line with previous weeks. Vivendi 28s underperformed through the as Havas announced AI spending while noting progress on the group breakup plans.
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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