Free Trial

Euribor Futures A touch Lower On The Day, As Flash PMIs & BoE Speak Feed In

STIR

Little to report since the flash PMIs when it comes to meaningful Eurozone drivers, with modest hawkish spill over from BoE communique noted in more recent EUR STIR trade.

  • Still, Euribor futures stick to contained ranges last trading flat to -2.0.
  • ECB-dated OIS sees a modest hawkish move on the day, with ’24 meeting contracts moving in a similar manner to Euribor futures, last showing ~76bp of cuts through year end.
  • Familiar levels remain intact, with nothing seen that will meaningfully alter ECB-related discussions.
ECB Meeting€STR ECB-Dated OIS (%)Difference Vs. Current Effective €STR Rate (bp)
Jun-243.694-21.6
Jul-243.579-33.1
Sep-243.400-51.1
Oct-243.299-61.1
Dec-243.148-76.2
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.