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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
- STIR futures continue to drift higher as oil prices remain under pressure and discussing global recessionary fears also seem to be a topic of conversation at present.
- SONIA futures remain the outperformers, with market participants disappointed that inflation didn't come in higher than the economist consensus. Reds have seen the biggest moves, up 19-20 ticks on the day with the Dec-22 contract up 14.5 ticks. For the BOE, markets now pricing about 53bp for August (from 56bp yesterday and high of 61bp post-MPC meeting), 98bp (cumulatively) by September, 146bp by November and 174bp by year-end (down 12bp from yesterday's close).
- Euribor futures are up to 11 ticks higher through most of the strip with some flattening in Whites. For the ECB, markets price 31bp for July, 87bp by September and 174bp by year-end.
- The Eurodollar strip is up to 15 ticks higher with the biggest move in the Sep-23 contract. For the Fed, around 69bp is priced for July (down 3bp from yesterday's low), 128bp (cumulatively) by September and 191by by year-end (down around 11bp from yesterday's 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.
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