Free Trial

72bp OF '24 BoE Cuts Priced

STIR

SONIA futures are flat to +2.0 through the blues, with core global bond futures hovering around yesterday’s highs.

  • ’24 BoE-dated OIS contracts are little changed to 2bp softer, showing ~72bp of cuts through year end.
  • Local headline flow has been limited since yesterday’s close.
  • There isn’t anything in the way of meaningful UK data releases scheduled for today, while the BoE speaker schedule is empty until tomorrow.
  • That will leave focus on wider headline flow and cross-market moves, with U.S. CPI data dominating the global risk calendar today.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
May-245.149-4.6
Jun-245.021-17.4
Aug-244.865-33.0
Sep-244.743-45.2
Nov-244.591-60.4
Dec-244.472-72.3
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.