November 15, 2023 08:31 GMT
Euribor Strip Largely Unaffected By UK CPI
The Euribor strip did not benefit from any lasting tailwinds from lower-than-expected UK CPI data, with the Reds through Blues sitting flat to -1.5bp below levels seen prior to release.
- Contracts run flat to +1.5 vs. settlement levels, with light outperformance seen in the Greens.
- ECB-dated OIS contracts are little changed on the day, with the December 2024 contract still pricing around 95bp of cuts.
- Today's local docket includes EZ September industrial production (which is likely to be skewed to the downside because of Ireland's -27.0% Y/Y reading), alongside Italian September Government debt levels and final October HICP readings. There are no ECB-speakers formally scheduled for today.