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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
Terminal central bank rate expectations continue to pull back as equities retrench (led by cyclicals/financials).
- While the Huw Pill comments earlier have put the focus on potential BoE dovishness (perhaps unjustifiably given his comments on inflation came before last week's CPI print), it's actually ECB rates that have pulled back the most today.
- The latter jumped late Mon following ECB Schnabel's comments on a 50bp hike being on the table for the May meeting, but that move was erased on today's open and the pullback has continued through the session.
This would be the biggest ECB peak rate pullback since Mar 23rd:
- ECB terminal Depo rate pricing -10.1bp to 3.81%
- BoE terminal Bank Rate pricing -7bp to 4.91
- Fed terminal Funds rate (upper limit) pricing -2.5bp to 5.25%
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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