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BoE-Dated OIS Shows A Little Over 60bp Of '24 Cuts

STIR

SONIA futures unchanged to -5.0 with Bund futures at/a little below levels seen late on Thursday.

  • BoE-dated OIS show ~62bp of cuts through ’24.
  • A reminder that U.S. FI moves/data, BoJ speculation and a move higher in oil factored into yesterday’s hawkish move in pricing.
  • The latest BoE’s inflation attitudes survey headlines domestically today.
  • UK PM Sunak has ruled out a May 2 general election.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Mar-245.201+1.2
May-245.174-1.5
Jun-245.082-10.7
Aug-244.944-24.5
Sep-244.838-35.1
Nov-244.685-50.4
Dec-244.567-62.2
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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