MNI BRIEF: China To Remain Second Largest Import Market

MNI: Japan Govt Keeps Econ Assessment; Tweaks Bankruptcies

MNI: NORGES BANK LEAVES RATES ON HOLD AT 4.5%

MNI BRIEF: CSRC To Promote Investment Value Of A-shares

MNI BRIEF: US Firms In China Less Optimistic For 2025

MNI BRIEF: China To Attract Long-term Funds For Stock Market

MNI: FRANCE JAN MANUF SENTIMENT AT 95

JAPAN DATA: Japan Dec Exports +2.8% Y/Y; Imports +1.8% Y/Y

MNI: JAPAN DEC EXPORTS +2.8% Y/Y; NOV +3.8%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

STIR: Just Over 65bp Of BoE Cuts Priced For '25

STIR
BulletMarketsFixed Income BulletsForeign Exchange Bullets

GBP STIRs little changed to a touch more dovish vs. levels that prevailed late Wednesday as Bund futures tick higher, although FI volumes are light to start the day.

  • BoE-dated OIS flat to 1.5bp more dovish across ’25 contracts, 66bp of cuts priced through ’25.
  • 22bp of cuts priced for next month, with a cumulative 26bp of easing priced through March and ~40.5bp through May.
  • We continue to look for a 25bp cut in both February and May
  • SONIA futures +0.5 to -0.5, with some of the post-settlement downtick unwound.
  • Macro & cross-market cues are set to dominate today, weekly jobless claims from the U.S. headlines the data calendar.
  • Looking slightly further ahead, Friday will bring the release of the flash PMI data. Markets could prove to be increasingly sensitive to that data given downside risks to UK economic growth.

BoE Meeting

Keep reading...Show less
144 words

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.

GBP STIRs little changed to a touch more dovish vs. levels that prevailed late Wednesday as Bund futures tick higher, although FI volumes are light to start the day.

  • BoE-dated OIS flat to 1.5bp more dovish across ’25 contracts, 66bp of cuts priced through ’25.
  • 22bp of cuts priced for next month, with a cumulative 26bp of easing priced through March and ~40.5bp through May.
  • We continue to look for a 25bp cut in both February and May
  • SONIA futures +0.5 to -0.5, with some of the post-settlement downtick unwound.
  • Macro & cross-market cues are set to dominate today, weekly jobless claims from the U.S. headlines the data calendar.
  • Looking slightly further ahead, Friday will bring the release of the flash PMI data. Markets could prove to be increasingly sensitive to that data given downside risks to UK economic growth.

BoE Meeting

Keep reading...Show less