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EUR Markets Little Changed Early On

STIR

Euribor futures are little changed to 1.0bp lower through the blues, coming under very light pressure as Bund futures tick away from yesterday’s high.

  • ECB-dated OIS contracts are little changed to marginally firmer on the day. ~168bp of cuts show through ’24 at typing.
  • There hasn’t been much in the way of meaningful Eurozone news flow to flag.
  • Spanish and Portuguese CPI data (both due Friday) headline the regional docket ahead of the turn of the year.
ECB Meeting€STR ECB-Dated OIS (%)Difference Vs. Current Effective €STR Rate (bp)
Jan-243.888-1.2
Mar-243.730-17.0
Apr-243.489-41.1
Jun-243.161-73.9
Jul-242.912-98.9
Sep-242.606-129.4
Oct-242.401-149.9
Dec-242.216-168.4
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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