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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
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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Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
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Commodities
Commodities
Real-time insight of oil & gas markets
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Credit
Credit
Real time insight of credit markets
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Data
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MNI Research
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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About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI DATA TABLE: MNI China Interbank Liquidity Index (Apr) - 1
MNI DATA TABLE: MNI China Interbank Liquidity Index (Apr) - 3
MNI DATA TABLE: MNI China Interbank Liquidity Index (Apr) - 2
What to watch
- The ECB meeting is the highlight of the day ahead. Markets are pricing in around 73bp (so almost fully pricing 75bp) while the MNI Markets team and the vast majority of analysts also look for 75bp. Reverse tiering or changes to the TLTRO conditions are expected to be discussed, with the MNI Policy Team noting that changes to the TLTRO interest rate were being considered ahead of reserve tiering (full piece available here). While President Lagarde may indicate that discussions on QT are advancing and that this would naturally follow the normalisation in policy rates, it seems premature at this stage for the ECB to unveil an explicit roadmap for shrinking the balance sheet. The full MNI ECB Preview is available here
- Across the pond, the first print of Q3 GDP will be released today with the Bloomberg median looking for 2.4% Q/Q annualised, but analyst estimates are relatively split with a standard deviation of 0.68% and just under 2/3 analysts looking for a print in the 2.0-3.0% range. The Atlanta Fed GDPNow model looks for 3.1%. We will also receive US weekly claims data.
- In the UK fiscal policy remains in the news. The Telegraph ran a story last night that stated the delay from 31 October to 17 November would see the government "reconsiders tax rises as budget delay saves £15 billion". This is due to taking market prices for energy and interest rates in a later period (further from the peak in gilt yields and taking into account the big fall in international natgas prices).
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.