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Euribor Futures A Little Firmer, Off Highs; Nagel At MNI Event At 0900GMT

STIR

Euribor futures are flat to +2.0 through the blues, with core global FI a little firmer overnight.

  • Slightly stronger than expected UK retail sales data will have helped futures move away from highs.
  • Today at 0900GMT/1000CET, Bundesbank President Nagel participates in an MNI webcast. Sign-up link here.
  • We also hear from ECB-hawk Holzmann at 1000GMT and the dovish Centeno at 1100GMT.
  • ECB-dated OIS remain within familiar ranges, with 92bps of cuts priced through the remainder of '24, and 23bps priced through the end of the June meeting.
  • The German IFO survey highlights the regional data calendar.

Meeting Date ESTR ECB-Dated OIS (%)Difference Vs. Current Effective ESTR Rate (bp)
Apr-243.899-0.8
Jun-243.680-22.7
Jul-243.530-37.7
Sep-243.318-58.9
Oct-243.167-74.1
Dec-242.991-91.6
Jan-252.875-103.2
Mar-252.733-117.4
Source: MNI/Bloomberg

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