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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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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 POLITICAL RISK - Trump's First Post Election Interview
MNI POLITICAL RISK ANALYSIS - Week Ahead 9-15 Dec
MNI US MARKETS ANALYSIS - AUD/JPY Finds Bottom on China News
US Open
CDX opening -0.5/-2 tighter, after ~$19b in supply yesterday (WTD $30b) did little to secondary spreads ($IG closed -1.4 tighter). Short end spreads outperformed, despite still signs of yield buying out in long-end of Bristol's deal. Belly came wide, but books were well covered, tightening up to 35bps on IPT and bringing NIC's down to single digits. $ ETF flows were ~flat again.
€IG finally broke a trend of sub 1bp moves yesterday (closing -1.2 tighter) & look to be continuing that move with curves skewed tighter. Exceptions include a continued drag from PBB lines (S&P came o/n with a downgrade to BBB- Neg) & Siemens (bringing >€2b in supply). VFC mid's finally putting a pause on their rally (1-2bps tighter today) & similar story with Avis 26/30's that are unch.
In US macro, focus on retail sales (Jan, nominal) at 1:30pm/8:30 ET which comes alongside weekly claims (not a reference week), empire manufacturing survey for Feb (volatile, comes off very weak reading in Jan but forward indicators were +ve) & Philly Fed business outlook. Fed Waller remarks after London close (6:15pm/1:15pm ET) are not on MPol but our Eco notes Q&A leaves door open for vol/broader remarks.
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.