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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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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
ZAR Erases Week's Strength on Solid US Inflation
- Having outperformed from the off this week, ZAR strength has wholly reversed into the NY open, with the hotter-than-expected US inflation release unsurprisingly driving emerging markets currencies lower. USD/ZAR has been marked up to 17.3844 and through the Monday highs. The move is mimicked across the local yield curve, with 10y yields adding 8bps over the past 30 minutes or so.
- Notably, CNH/ZAR has surged, putting the cross just shy of 2.4984. Progress through here opens 2.5185 resistance (the early September highs) and levels not seen since mid-July.
- On US pricing, market is now pricing a 4.1% year-end rate, a new cycle high, implying 100bp total hikes in both Nov and Dec. Note in June, the highest dot was a lone 3.75-4.00% - none of the 18 dots was above 4%. There will likely be several this time.
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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.