MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

March Home Sales Jumped At End Of Month

MNI: US MAR IMPORT PRICES +0.4%

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

/ GILTS: Huge moves today

SONIA
  • Some huge moves in SONIA futures today with Reds / Greens up as much as 20 ticks on the day.
  • The move initially was following Euribor this morning - coming off the back of less hawkish than expected Holzmann comments.
  • There is also continued focus on the strikes in the UK and the impact on growth - there have been lots of negative headlines coming out from unions about negotiations going badly, and hence potential for more disruption.
  • The other thing is the continued warm weather and energy prices not going up so much in UK/Europe as expected. So we might not see as much of a price increase for consumers in April - which would mean less inflation.
  • Also some possible position squaring ahead of tomorrow's US CPI print.
  • Other than the Holzmann comments, none of these themes are particularly new and the moves are impacting the entire gilt curve. The gilt curve is also seeing continued follow through from yesterday's huge BOE Financial Stability Sales operation - where the vast majority of remaining holdings were sold.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.