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G10 Markets
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Real-time insight on key fixed income and fx markets.
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Global Macro
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Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI Eurozone Inflation Insight – November 2024
MNI ASI OPEN: Fed Bostic Still Confident of Waning Inflation
MNI ASIA MARKETS ANALYSIS: Tsy Curves Twist Flatter
Bulk Of Dovish Repricing On BoE Strip Holds
BoE-dated OIS hovers a little off of dovish session extremes, but remains comfortably off the dovish extremes that we have covered in detail in recent weeks, in light of last week's hawkish re-pricing.
- The broader bid in core global FI markets, downtick in oil (which has partially reversed) and the market's pick and chose mantra surrounding this morning’s reiterations from BoE Governor Bailey have been the main market drives of note.
- Terminal policy rate pricing on the BoE-dated Is strip is ~6bp above prevailing SONIA levels.
- Beyond there, markets are now pricing near 90% odds of a 25bp cut come the end of the August ’24 MPC, given the dovish move seen today.
- For ’24 on the whole, markets now show ~58bp of cumulative easing vs. current effective SONIA levels.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
Dec-23 | 5.212 | +2.3 |
Feb-24 | 5.248 | +5.9 |
Mar-24 | 5.231 | +4.2 |
May-24 | 5.164 | -2.5 |
Jun-24 | 5.092 | -9.7 |
Aug-24 | 4.968 | -22.1 |
Sep-24 | 4.852 | -33.7 |
Nov-24 | 4.715 | -47.4 |
Dec-24 | 4.605 | -58.4 |
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.