Free Trial
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 rate cut expectations for 2024 picked up to a fresh high Tuesday, increasing 10bp on the day to 140bp as ECB's Schnabel called further hikes "rather unlikely" and implicitly did not rule out cuts by mid-2024.
- In line with those comments, a March 2024 25bp cut was briefly almost entirely priced in (96% implied in early trade), before April resumed its position as the most likely date (42bp of cuts implied by then - though March remains around 88% priced). The rate strip now prices 4 cuts by September and 5 by October.
BoE rate cut expectations for the year post-peak (between Q1 2024 and Q1 2025) continue to trundle around the 90-100bp area, rising by 9bp today in sympathy with the move in ECB cut pricing rather than any UK-specific factor.
- June 2024 sees the first fully priced rate cut, with a second by September and a high chance of a third by December.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok