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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
Post-CPI BoE terminal rate pricing is a couple of bp off the session highs, but has still gained 35bp on the day, with markets starting to price potential for a 50bp hike in June and nearly 100bp of hikes left in the cycle.
- The UK move is forcing a repricing higher in Fed (+1bp) and ECB (+4bp) terminal rates, but the BoE terminal is starting to leave them in the dust, now priced higher than the terminal upper bound of the Fed funds rate (5.46% vs a Fed range of 5.12-5.37%).
- BoE terminal Bank Rate pricing +35.1bp to 5.46% (96bp of further hikes left in the cycle). June's hike is priced at 31bp (25% of 50bp hike, 75% of 25bp)
- ECB terminal depo Rate pricing +4bp to 3.84% (59bp of further hikes left in the cycle). June priced at 24bp (95+% of 25bp hike)
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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