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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
A soft ECB bank lending survey and weak German IFO did little to move peak pricing for the ECB and BoE Tuesday (terminal pricing had the smallest change at the close so far in July), with the Fed decision Wednesday and ECB Thursday looming later in the week.
- ECB terminal depo Rate pricing -0.7bp to 3.94% (44bp of further hikes left in the cycle to Dec 2023). Very little change in Tuesday's session, with a 25bp hike 96% priced at Thursday's meeting.
- BoE terminal Bank Rate pricing +0.8bp to 5.89% (89bp of further hikes left in the cycle to Feb 2024). There's still just under 50% probability implied for a 50bp hike at the August MPC.
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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