-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessHolding Lower, BoE Speak & CPI Eyed after Hot Wage Data
This mornings’ firmer-than-expected wage data keeps the pressure on gilts, with futures registering fresh lows in recent trade (96.44), moving closer to the next technical support level (96.30) in the process.
- Cash gilt yields are 2.0-3.5bp higher across the curve.
- 2s test April yield highs, while 10s register fresh year-to-date yield highs, with the latter now eying the Nov 24 high (4.323%).
- 10s closed above their 200-DMA yesterday, representing the first such close since December.
- Nov-33 I/L gilt supply was well received.
- SONIA futures are flat to 6.0 lower, just off session lows.
- BoE-dated OIS shows ~47bp of ’24 cuts vs. a little over 50bp late Monday. The first 25bp is still fully discounted come the end of the September MPC.
- Immediate focus moves to impending comments from incoming BoE Deputy Governor Lombardelli, with comments from Governor Bailey due later on Tuesday (click for more on both addresses).
- Data-wise, the next release of note comes in the form of tomorrow’s CPI data, with a particular focus on services inflation and the ‘Easter impact.’
- Click for our full preview of that release.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
May-24 | 5.183 | -1.5 |
Jun-24 | 5.111 | -8.8 |
Aug-24 | 5.000 | -19.8 |
Sep-24 | 4.926 | -27.2 |
Nov-24 | 4.813 | -38.5 |
Dec-24 | 4.730 | -46.9 |
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.