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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.
FINANCIALS SECTOR
Unsual cross-asset day in the capital markets banks in Europe (aka inv banks) with equity falling and spreads tightening in some cases.
- US IBs report tmrw and Monday (Citi, BoA and JPM all tmrw) and equity in these companies often moves positively into results. Current expectations are for (in order of importance) FICC revenues to drop, equities to rise and primary lines to be a mixed bag... and those businesses are then all about the outlooks and pipelines.
- In Europe, Barclays (BARC LN), Deutsche (DBK GY) and SocGen (GLE FP) are some of the weakest performers in financials equity world... along with Lloyds Bank (LLOY LN) which is a very different animal (retail bank & insurance co).
- At same time, CDSs for these three capital markets banks have all tightened today (see image), along with OASs on many lines of their traded debt. Deutsche, particularly, has seen its equity outperform the banks index (SX7P Index) in the last quarter so elements of profit taking after a good run in here.
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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