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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
- After a weak open, much of the early moves lower in both Euribor and short sterling has been reversed now with Whites and Reds flat to 0.5 ticks lower while Greens are Blues are 0.5-2 ticks lower.
- The moves on the open seem to have been driven by the bigger moves in the Eurodollar strip which has seen a steepening in the front six contracts and then further out the curve the strip is down 5-6 ticks on the day. Further out the curve this reverses around a third of the move seen in Friday's rally.
- Markets are still trying to mull over the impact that the Omricon variant will have on central bank policy. Recall that prior to this, a December BOE hike was seen with a greater than 50% probability, that is now lower than 50%. Expectations were growing that the Fed would speed up the pace of tapering and hike when QE was finished, that now seems very much in the balance. The ECB is still expected to announced the successor to PEPP at its December meeting but will it now be on more generous terms?
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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