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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.
STIR FUTURES
- Euribor futures are leading the way lower this morning with most of the strip down 3 ticks, reversing some of the rally induced by the release of the MNI sources piece yesterday that played down the significance of Knot's recent comments regarding a 50bp hike and instead stated that expectations on the ECB are generally for two 25bp hikes this year, with the possibility of three. Markets now price in around 32bp (cumulatively) for a July ECB hike, up from 21bp on Friday while 66bp is priced by September. As we noted in the What to Watch bullet, the highlight today will be the release of the ECB Accounts at 12:30BST / 13:30CET.
- The Eurodollar strip has seen Whites move a little higher, Reds little changed while Greens and Blues are up to 2 ticks lower today. For the Fed, markets price 53bp for June, 104bp by July, 143bp by September and 196bp by year-end.
- The SONIA strip is generally within a tick of yesterday's close. Markets now price in 32bp for June, 66bp by August, 90bp by September, 111bp by November and 124bp by year-end.
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.
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