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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 hike pricing looks set to end the week on a high: +1.4bp on the day to 3.86% (61bp of further hikes left in the cycle to October). That would be the highest implied terminal rate since late April, and includes a nearly fully priced 25bp hike in June followed by a high probability of a follow-up 25bp in July.
- Pricing has remained around session highs alongside comments a few minutes ago from ECB's Makhlouf, who said his "lead option" is for hikes in June and July, remaining open about subsequent decisions. Unsurprisingly given that outlook and the current Eonia curve, he is "very relaxed" about the market pricing of rates.
- That's the first we've heard (on monpol specifically) from Makhlouf since April - when he stated that "it's far too early to start planning for a pause in [...] tightening".
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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