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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
- Following the dovish BoE announcement, SONIA futures continue to move higher with Jun22 to Mar23 all up more than 25 ticks post-decision.
- Markets still pricing in 34bp for the May meeting (fully pricing 25bp with around 25% probability of a 50bp hike).
- 121bp is cumulatively priced for the remainder of 2022. There had been 147bp cumulative more hikes this year when adjusted for today's hike around an hour ahead of the decision. So just over a whole 25bp hike has been priced out the curve by year-end, with markets looking for Bank Rate of just below 2.00%. This is still significantly higher than the economist consensus going into the meeting of 1.25%, but the lowest implied-market rate since 8 March.
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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