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Why MNI
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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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Free AccessTsys still weaker but well off......>
US TSYS SUMMARY: Tsys still weaker but well off lows post ADP (+178k; Apr rev'n
+163). Tsys had reversed appr two-thirds of Tue's risk-off/safe-haven rally as
Italy remains in focus -- decent Italian BTP/CCTEU auction performance (and
higher flash inflation data from German regions and Spain) helped narrow
peripheral spds (Italy 10Y vs. Bunds -40.1, Spain -18.9. Portugal -23.9, Greece
-29.2). Tsy Yld curves sharply flatter after mixed open, lvls still off mid-May
multi-yr lows.
- USD index giving back (DXY -0.718, 94.102; US$ vs. Yen +0.17, 108.94); stocks
rebound (emini +35.5, 2727.75); gold firmer (XAU +2.72, 1301.59); West Texas
crude bounce (WTI +1.57 to 68.30).
- Decent flow still well off Tue's heavy pace w/real$ and bank portfolios
selling intermediates and long end earlier, two-way by late morning w/fast and
real$ across the curve, flatteners in 2s and 5s vs. 30s, Tsy futures roll volume
slows ahead Thu final notice. Cautious positioning ahead Fri's May NFP.
- Tsy cash/ylds: 2Y 100-05 (2.415%), 5Y 100-10.25 (2.679%), 10Y 100-06 (2.851%),
30Y 101-29 (3.027%).
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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.