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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 is essentially unchanged on the day, trading within 1bp of yesterday’s closing levels after the BoC-inspired uptick. That leaves terminal rate pricing around 3.82-83%, just below yesterday’s hawkish extreme and only a handful of bp shy of the post-May meeting closing peak.
- Executive Board member Elderson focused on climate matters in an interview with the FT.
- Governing Council member Centeno rounds off the scheduled ECB speaker slate as the Bank nears its pre-meeting quiet period.
- Final readings of Eurozone GDP & Employment data covering Q1 did little for the space.
- The observance of the Corpus Christi holiday across various European countries/regions will hamper liquidity in EUR assets today.
| ECB Meeting | €STR ECB-Dated OIS (%) | Difference Vs. Current Effective €STR Rate (bp) |
| Jun-23 | 3.389 | +24.5 |
| Jul-23 | 3.590 | +44.6 |
| Sep-23 | 3.708 | +56.4 |
| Oct-23 | 3.724 | +58.0 |
| Dec-23 | 3.714 | +57.0 |
| Feb-24 | 3.661 | +51.7 |
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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