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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
ECB-dated OIS cut pricing for 2024 has been pared back slightly following this morning's ECB-speak, but still indicates just over 90bps of cuts priced by the December 2024 meeting vs the current ESTR effective rate.
- Comments from Governing Board members this morning did not add much new to the policy debate, but more influential speakers (e.g. Nagel) continued to push back on cut expectations and reiterated vigilance on inflation. As previously noted, Lane's comments r.e. not taking comfort from inflation at 2.9% are of some note given his dovish leanings.
- The strip shows around 1bps fewer cuts priced through the April - October 2024-dated contracts vs this morning before comments began hitting wires.
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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