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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 FUTURES
After yesterday's big moves in STIR futures (SONIA futures up to 28 ticks higher, Eurodollar futures up to 21.5 ticks higher and Euribor futures up to 16 ticks higher), this morning we have seen some pullback in Eurodollar Whites, but other moves have been limited to a couple of ticks. As we noted in earlier bullets, the PMI data is likely to be the biggest driver for markets this morning, although we will probably need a decent surprise to get a substantial move.
- For the BOE, markets now pricing about 53bp for August (from 56bp on Tuesday and high of 61bp post-MPC meeting), 96bp (cumulatively) by September, 145bp by November and 178bp by year-end.
- For the ECB, markets price 31bp for July, 85bp by September and 170bp by year-end.
- For the Fed, around 71bp is priced for July (up 2bp from yesterday's low around 69bp), 134bp (cumulatively) by September and 194by by year-end (around 5bp higher than yesterday's low).
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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