Free Trial
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
A jump in BoE peak rate pricing stood out Wednesday, to the highest since Jul 18, with ECB expectations also pushing higher amid repositioning ahead of Thursday's decision.
- ECB terminal depo Rate pricing +3.5bp to 3.98% (47bp of further hikes left in the cycle to Dec 2023). A 25bbp hike tomorrow is 96% priced, but September remains in the balance (37bp, at best a 50% prob of a consecutive 25bp raise), potentially swayed by the Governing Council's communications Thursday.
- BoE terminal Bank Rate pricing +8.1bp to 5.97% (97bp of further hikes left in the cycle to Feb 2024) Peak pricing jumped the most since Jul 14, despite few evident news/macro catalysts. Even with analysts affirming/switching to a 25bp hike expectation for August (Deutsche Bank today said they now see a 25bps rise vs 50bps hike previously expected), pricing for the next meeting held firm, with just under 50% prob of a half-point hike (46%).
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok