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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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Free AccessMNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
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US-Led Coalition Vague Re: Actions To Halt Strikes On Red Sea Shipping
Following the announcementon 18 Dec that the US would lead a 10-nation coalition intended to protect international shipping in the Red Sea, there has been little further indication of what actions this group will take to secure shipping, resulting in firms continuing to divert cargoes around the Cape of Good Hope. The diversions come amid a major uptick in aerial and seaborne attacks on vessels in the Red Sea and around the Bab al-Mandab Strait from Iranian-backed Houthi rebels in Yemen.
- Reuters: "...few practical details are known about the initiative launched on Tuesday by Washington...The group will conduct joint patrols in the southern Red Sea and the adjacent Gulf of Aden. "Will they do anything except swat the missiles out of the sky? If that's all, then will it give the assurances that are needed for shipping companies? We don't know yet," said one shipping industry source. "The market needs to see it have some success or concrete action," another source said."
- Harry Dempsey at the FT: "More details on US-led coalition: No convoy planned at this stage. Nato naval ships will provide anti-missile and drone cover to establish safe corridor..."
- There remains the risk of wider conflagration emerging, especially if Houthi forces fire directly at US or other NATO vessels deployed to the region.
- US Secretary of State Anthony Blinken currently holding a year-end presser, speaking on international and security issues.
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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.