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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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Free AccessBoE Pricing Eases A Little, Mansion House Eyed
As noted elsewhere, the move lower in BoE-dated OIS has caught the eye today, although there wasn’t much in the way of headline drivers to flag.
- That leaves BoE-dated OIS pricing running 2-7bp softer on the day, with terminal policy rate pricing last showing around 6.40%, a little above session lows.
- Standard Chartered have suggested that PM Sunak should raise taxes to aid the BoE’s inflation fight.
- Participants look ahead to Mansion House addresses from BoE Governor Bailey & Chancellor Hunt later today (see more on that via our latest Gilt Week Ahead piece), as well as the latest batch of domestic labour market data, due tomorrow.
- A quick reminder that the weekend saw Governor Bailey push back against the idea of moving the 2% inflation target higher.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
Aug-23 | 5.388 | +45.8 |
Sep-23 | 5.750 | +82.0 |
Nov-23 | 6.050 | +112.0 |
Dec-23 | 6.241 | +131.1 |
Feb-24 | 6.331 | +140.1 |
Mar-24 | 6.343 | +141.3 |
May-24 | 6.317 | +138.7 |
Jun-24 | 6.268 | +133.8 |
To read the full story
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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.