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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
Implied ECB rate cuts deepened further Thursday on a second day of below-expected Eurozone inflation prints, but finished off dovish extremes. BoE rate cut expectations were pared slightly.
- Market-implied 2024 rate cuts reached 114bp in early trade, a new cycle high, but faded to 108bp by the close.
- The anticipated path includes a fully-priced rate cut by April 2024, with a second by July (and a high probability of a June reduction).
- In contrast, BoE rate cut expectations for the year following the Feb / Mar 2024 peak were pared by 6bp to 93bp, with the first cut seen at the August MPC (was briefly seen at the April meeting) and a second by November.
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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