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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
ECB-dated OIS pricing is little changed vs Friday's levels, with less than 1bp of tightening priced for the next meeting in December and the first 25bp cut more than fully priced through the end of the Bank's June 2024 meeting.
- Current pricing indicates over 90bps of cuts through the 2024 ECB meetings.
- The wave of October services PMIs from the Eurozone this morning did not move the needle in EGBs or STIRs, with the themes of demand deterioration seemingly baked into prices already.
- The Euro Sentix survey for October showed a slight improvement vs consensus and the October reading but similarly had limited effect.
- ECB-speak from de Guindos, Holzmann and Nagel will be the focus for the remainder of today.
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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