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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.
CONSUMER STAPLES
- €26s another +12 on the open, £25s unch.
- To clarify $26s (+66 mids yest) are ahead of it (below re-ordered). We would revisit €26s at MS+200 (+160 now).
- Rotate into €VFC26s for better risk/reward (no carry give up, not a cheap view though).
- We take off the £25s. As we said we still have no issue with it as it is a front-maturity (~$1.5b ahead of it). But our cheap views are also based on current levels and on that it no longer looks dislocated (below is the before/after earnings).
- We have no firm view right now but those with bullish takes should eye the $26s (6.6%/T+186).
- Equities -22%
- £25s +2
- $26s +66
- €26s +12
- $30s +64
- $44s +26
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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