Pricing for the December ECB meeting has fallen from around 62bp to around 56bp this morning on the back of the soft Spanish HICP and German NRW CPI data.
The terminal rate has fallen from pricing in around 152bp of further hikes by July to pricing in around 137bp (so around 15bp lower).

EM Bullet Fixed Income News Homepage Bullet Markets Emerging Markets News Foreign Exchange News

Tim Davis

EM Bullet Fixed Income News Homepage Bullet Markets Emerging Markets News Foreign Exchange News

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Around 15bp removed from terminal rate