MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BoE Pricing Shows 75bp Of '24 Cuts

STIR

BoE-dated OIS trades towards dovish session extremes that came on the back of feedthrough from some of the more dovish BoE rhetoric at the latest TSC hearing.

  • 75bp of cuts are priced through '24 vs. ~68bp at yesterday's close.
  • The latest RTRS poll indicated that August will herald the first BoE rate cut vs. Q2 in the January poll (majorities being slim in both instances).
  • This slight push back in rate cut timing generally tracks the recent evolution of market pricing.
  • A quick reminder that while BoE Governor Bailey & Deputy Governor Broadbent didn't endorse market pricing they didn't firmly push back against it.
  • Bailey repeated that inflation does not have to be at target for the Bank to start cutting rates.
  • Still, he stressed that more evidence is needed re: a moderation in inflation before rate cuts can be implemented.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Mar-245.197+1.0
May-245.141-4.6
Jun-245.043-14.4
Aug-244.880-30.7
Sep-244.744-44.3
Nov-244.571-61.6
Dec-244.438-75.0
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.