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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
Following comments by the ECB Executive Board's Schnabel this morning that markets may be underestimating inflationary pressures, and in line with hawkish Fed repricing overnight, ECB peak pricing continues to hit fresh cycle highs.
- The envisaged terminal deposit rate is up 5bp today at just above 3.72% implied in September-October 2023 (another 122bp of hikes from here).
- Also notable: only about 1bp of ECB cuts priced between the peak and year-end, down from 8bp of cuts priced only a few sessions ago.
- A 50bp ECB hike in March remains basically fully priced (95% probability), with 107bp through June (including roughly 2/3 prob of another 50bp in May).
Source: BBG
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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