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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 contracts are a touch firmer today, with cheaper core FI markets and some reaction to comments to late Monday comments from the usually dovish Governing Council member de Cos, who noted that is still some way to go even with the Bank’s tightening cycle “well advanced,” as well as highlighting the need for rates to remain restrictive for a prolonged period, factoring in.
- Terminal rate pricing has nudged up to 3.80% in ECB deposit rate terms after struggling to show above 3.75% on a consistent basis in recent weeks.
- Flash PMI data from across the Eurozone presents the regional data highlight today, with ECB communique from de Guindos, Villeroy, Nagel & Muller also on the slate.
| ECB Meeting | €STR ECB-Dated OIS (%) | Difference Vs. Current Effective €STR Rate (bp) |
| Jun-23 | 3.390 | +24.0 |
| Jul-23 | 3.590 | +44.0 |
| Sep-23 | 3.696 | +54.6 |
| Oct-23 | 3.704 | +55.4 |
| Dec-23 | 3.680 | +53.0 |
| Feb-24 | 3.621 | +47.1 |
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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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