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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
- Eurodollar futures hit new lows this morning despite the US holiday with EDZ2 touching its lowest post-Covid level of 99.045 (lower than the 99.06 low seen at the end of October), although it has since moved back to 99.075 at writing. Eurodollar Reds have been the biggest movers in G3 STIR over the past couple of days, moving over 20 ticks lower since Tuesday's close following on from higher than expected Chinese and US inflation data yesterday. Rates at 0.75% are fully priced by the end of 2022 now with a hike to 1% now priced around Q1-23.
- The Euribor strip has moved lower this morning, but it too is off the day's lows. The curve has steepened through the Whites and Reds over the past couple of days moving 15 ticks lower for the Sep-23 contract. Markets now price two 10bp ECB hikes by the end of 2022 (up from one on Tuesday).
- The short sterling strip has seen the smallest moves in Greens/Blues but Reds moved over 10 ticks lower yesterday and have moved a tiny bit lower again this morning. We are now back to almost fully pricing rates at 1.25% by the end of 2022.
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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