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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.
BONDS
- Dust is settling in Europe, after a big volumes traded morning session for Germany.
- Buxl trading over 600 ticks range, Bund over 300, and some of the Euribor contracts, in 30 ticks, all following the European Services PMI miss, bringing recession right at the forefront.
- Lighter volumes are going through in the past 30 minutes or so.
- Tnotes are seeing small selling, with 3k sold as the US starts to come in and join the session.
- The outperformance of Bund, has pushed the Tnotes/Bund spread 14.5bps wider.
- The spread has now widened from 147.69bps on Monday (tightest since January 2021), to 166.6bps today.
- Next upside target will be seen at the June high 172.79bps.
Chart source; MNI/Bloomberg
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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