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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
BoE peak hike pricing dropped to the lowest since June 12th (prior to key labour market data saw yields soar) Thursday, while ECB implied terminal rates remained fairly steady a week ahead of the Governing Council's decision.
- BoE terminal Bank Rate pricing -9.4bp to 5.67% (42bp of further hikes left in the cycle to Feb 2024): Despite little in the way of meaningful news/data outside of mixed Decision Maker Panel data (expected wages/prices lower but realised wages picking up), BoE hike expectations dropped by the most in a session so far this this month.
- 21bp is priced for September's MPC (85% prob of a 25bp hike, down from about 90% Wednesday), with 34bp through the next two meetings.
- ECB terminal depo Rate pricing -0.3bp to 3.92% (17bp of further hikes left in the cycle to Dec 2023): There's 9bp (36% prob of a 25bp hike) priced for next Thursday's meeting, about 1bp higher on the day; 15bp is cumulatively priced through the next two meetings.
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.
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