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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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- CDX opened unch & is moving tighter now - follows a strong -1.1/-11bp move last night on Fed perceived optimism of a soft landing and absence of explicit pushback on timing of cuts in the 1H. Our Economist noting on the Q&A; "Powell doesn't categorically dismiss a potential cut in May or June, as he did with March cut back in the January press conference". Cuts to June are priced at 20bps now.
- $IG cash prints didn't seem to find much support from the risk-on sentiment; closed +0.9/+1.7bps wider with no supply. Credit pointing to a better session today; Euro & Sterling IG are skewed tighter this morning, S&P futures +0.45% with low-vol in pre-market. Still muted/flat $ ETF flows yesterday while €IG/IEAC saw ~€210m in outflows adding to weakness this week.
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.