US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

BoE Pricing Still Sticky, Showing 40bp Of Cuts By Year End

STIR
HomepageBank Of England (BOE) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

BoE-dated OIS is proving sticky, still showing ~40bp of cuts through year end.

  • BoE comments have refrained from signalling a need for back-to-back cuts, introducing some hawkish bias and preventing the market from fully discounting sequential easing at meetings through early ’25 (~40bp of cuts currently priced through year end).
  • A reminder that BoE hawk Mann will appear on a panel discussing “The Value of Economic Research for Policy” (13:15 London).
  • There is no live streaming of the event.
  • Don’t expect much new from Mann today.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Sep-244.906-4.5
Nov-244.690-26.0
Dec-244.550-40.0
Feb-254.354-59.6
Mar-254.211-73.9
May-254.047-90.3
Jun-253.952-99.8
119 words

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.

BoE-dated OIS is proving sticky, still showing ~40bp of cuts through year end.

  • BoE comments have refrained from signalling a need for back-to-back cuts, introducing some hawkish bias and preventing the market from fully discounting sequential easing at meetings through early ’25 (~40bp of cuts currently priced through year end).
  • A reminder that BoE hawk Mann will appear on a panel discussing “The Value of Economic Research for Policy” (13:15 London).
  • There is no live streaming of the event.
  • Don’t expect much new from Mann today.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Sep-244.906-4.5
Nov-244.690-26.0
Dec-244.550-40.0
Feb-254.354-59.6
Mar-254.211-73.9
May-254.047-90.3
Jun-253.952-99.8