BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Euribor Futures Broadly Unchanged Ahead Of Busy Data Calendar

STIR
HomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

Euribor futures are broadly unchanged through the blues ahead of a busy regional data calendar today.

  • ECB-dated OIS contracts price 72bps of cuts through the remainder of ’24, with 22bps of easing showing through the June meeting.
  • Yesterday evening, ECB’s de Guindos and Knot joined the contingent of speakers supporting a cautious and non-committal approach to policy beyond the June meeting, where a first rate cut seems probable.
  • French April flash inflation is the last major national print before the Eurozone-wide release at 1000BST. An in-line French print at 2.2% Y/Y should mean the Eurozone figure tracks close to consensus at 2.4% Y/Y after yesterday’s broadly in-line Spanish and German flash releases.
  • We also receive flash Q1 GDP data from Spain, Italy, Germany and the Eurozone.

Meeting Date ESTR ECB-Dated OIS (%)Difference Vs. Current Effective ESTR Rate (bp)
Jun-243.688-21.8
Jul-243.593-31.3
Sep-243.410-49.6
Oct-243.331-57.5
Dec-243.188-71.8
150 words

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.

Euribor futures are broadly unchanged through the blues ahead of a busy regional data calendar today.

  • ECB-dated OIS contracts price 72bps of cuts through the remainder of ’24, with 22bps of easing showing through the June meeting.
  • Yesterday evening, ECB’s de Guindos and Knot joined the contingent of speakers supporting a cautious and non-committal approach to policy beyond the June meeting, where a first rate cut seems probable.
  • French April flash inflation is the last major national print before the Eurozone-wide release at 1000BST. An in-line French print at 2.2% Y/Y should mean the Eurozone figure tracks close to consensus at 2.4% Y/Y after yesterday’s broadly in-line Spanish and German flash releases.
  • We also receive flash Q1 GDP data from Spain, Italy, Germany and the Eurozone.

Meeting Date ESTR ECB-Dated OIS (%)Difference Vs. Current Effective ESTR Rate (bp)
Jun-243.688-21.8
Jul-243.593-31.3
Sep-243.410-49.6
Oct-243.331-57.5
Dec-243.188-71.8