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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.
SONIA
- SONIA futures continue their repricing following yesterday's dovish MPC meeting.
- We have seen Reds move up to 14 ticks higher today, making cumulative moves of over 30 ticks since Wednesday's close.
- We still think that there is more scope for the rally to continue.
- We think the BoE's reaction function is transitioning from being solely concerned with inflation expectations to also taking into account medium-term growth expectations. This is partly a function of rates moving closer to neutral, and partly as the growth/inflation trade-off continues to worsen.
- Markets are still pricing in 32bp for May, 97bp by September and 116bp 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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