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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.
STIR FUTURES
STIR futures are higher across the board this morning on the back of Covid concerns in China.
- Eurodollar futures are up to 18 ticks higher this morning, led by Reds. Markets continue to price fully price in three 50bp hikes by July but market pricing for the remainder of 2022 has reduced a bit this morning, moving around 15bp from the intraday highs seen on Friday. Still, markets price in 238bp by year-end (6 meetings).
- Euribor futures have seen a flattening of the curve in the Whites and then a move of around 7.5 ticks higher from Reds throughout the rest of the strip. Markets now price in 80bp by year-end.
- SONIA futures have moved up to 11.5 ticks higher on the day. Market pricing for the next couple of meetings is only a little changed with 30bp priced for May and 60bp by June, but further out this year pricing has fallen around 10bp with 152bp now priced for the year.
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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