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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
- Big downward pressure on the SONIA strip this morning with Whites down 0.5 to 5.5 ticks, Reds down 6.0-7.5 ticks and Greens/Blues down 7.5-8.0 ticks.
- This is on the back of the higher-than-expected CPI print this morning.
- Markets now price 98% probability of a February 25bp hike (up from 84% pre-data and 92% peak yesterday). 4.4 hikes now priced by November (up from just below 4.0 pre-data).
- As we noted following the data, the move in GBP FX was limited at the time of the release, but as the SONIA strip has moved, it has moved the currency.
- Gilts due to open at 8:00GMT. Bunds already being helped lower by the UK CPI move as well as technical factors.
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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