Free Trial
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
BoE terminal Bank rate pricing hit a fresh high of 6.31% Tuesday while the ECB equivalent ticked above 4% for the first time since Jun 22.
- ECB terminal depo Rate pricing +3.7bp to 4% (51bp of further hikes left in the cycle to Dec 2023). Between strong US data, hawkish-leaning ECB comments from Sintra (including an MNI interview with a typically hawkish Wunsch), and anticipation of June inflation readings starting tomorrow with Italy (MNI's Eurozone Inflation preview is here), terminal pricing reclaimed a 4.00% handle, with 23bp priced in for the July meeting.
- BoE terminal Bank Rate pricing +5.1bp to 6.27% (127bp of further hikes left in the cycle to Feb 2024). BoE hike pricing edged higher too, spurred by similar factors as the ECB rate strip, though receded slightly from session highs. Of the 127bp currently implied by OIS between now and Feb 2023, 46bp remains priced for the August meeting, resisting BoE dove Dhingra's attempts to talk down inflation risks today. We get appearances from BoE's Pill and Bailey tomorrow.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok