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Central Bank Speak & Data Allow Core CB Pricing To Move Away From Dovish Extremes

STIR

A quick marker for the moves away from dovish extremes in core global STIR pricing, which has been aided by pushback re: market pricing from numerous Fed & ECB officials over the last few days. U.S. retail sales data provides the latest input for the move, with this morning’s firmer-than-expected UK CPI also factoring in.

  • Fed: ~140bp of cuts priced through ’24 vs. post-PPI extremes of ~170bp last Friday. ~14.5bp of cuts are now priced through the Mar ’24 FOMC vs. ~22.5bp post-PPI
  • ECB: ~136bp of cuts priced through ’24 vs. ~175bp of cuts priced during the Christmas-NY period.
  • BoE: ~106bp of cuts priced through ’24 vs. ~150bp of cuts priced during the Christmas-NY period.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
FOMC Calendar Market NewsHomepageEuropean Central Bank (ECB) Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
FOMC Calendar Market NewsHomepageEuropean Central Bank (ECB) Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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