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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 terminal rate pricing rose a couple of basis points Wednesday ahead of Thursday's monetary policy decision, while implied BoE hikes pulled back after Tuesday's sharp rise.
- ECB terminal depo Rate pricing +2.3bp to 3.83% (58bp of further hikes left in the cycle). Despite few catalysts of note in Wednesday's session, peak hike pricing ticked higher for the 2nd straight day. A 25bp hike tomorrow is basically a foregone conclusion, at 96% priced.
- BoE terminal Bank Rate pricing -8.2bp to 5.74% (126bp of further hikes left in the cycle). A dip in peak hike pricing is understandable after a full 25bp hike was added to the rate path Tuesday following strong labor market data. The implied peak is still 21bp higher than it opened the week and 32bp vs the start of June.
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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