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BoE-Dated OIS Curve Sees Light Twist Steepening

STIR

The BoE-dated OIS strip comes under some light twist steepening pressure this morning as it reacts to wider cross-asset moves. Terminal rate pricing remains somewhat sticky in the 6.25% policy rate zone. There hasn’t been much in the way of UK specific news flow to push the space about, with the weekend seeing PM Sunak remaining reluctant to provide large increases in public sector pay, while Chancellor Hunt noted that consumer watchdogs should do all they can when it comes to helping bring down prices.

  • Click for a full summary of this week’s BoE speakers.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Aug-235.370+44.2
Sep-235.762+83.4
Nov-236.026+109.8
Dec-236.170+124.2
Feb-246.196+126.8
Mar-246.182+125.4

Source: MNI - Market News/Bloomberg

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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