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.
ECB
Terminal ECB rate pricing has slipped 3-4bp vs Tuesday's close, though had fallen as much as 5-6bp intraday following comments by ECB's Holzmann which were seen as leaning dovish vs his hawkish reputation.
- Peak rates are currently seen being reached in July after 147bp of hikes, implying depo rates a little under 3.50% (had closed just above 3.50% yest).
- Meanwhile, rate cut expectations beyond the peak continue to mount: the Sep23- Dec24 euribor futures spread now implying roughly 86bp of cuts from the peak to end-2024 (see chart).
- We came into 2023 with 60bp of cuts implied over that period.
Source: BBG, MNI
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