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Little Persistent Reaction In Euribor Following UK GDP Beat

STIR

Euribor futures are flat to +3.0 through the blues, with light pressure from the stronger-than-expected UK activity data fading.

  • ECB-dated OIS contracts are little changed vs yesterday afternoon’s levels, with 22bps of cuts priced through the June meeting and 70bps of cumulative easing priced through the remainder of the year.
  • Today’s regional calendar includes industrial production figures from Italy and the minutes of the ECB’s April monetary policy meeting.
  • The topics of scheduled speeches from ECB’s Cipollone and Elderson don't focus on broader ECB policy, though markets will be watchful of several Fed speakers this afternoon.

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    Euribor futures are flat to +3.0 through the blues, with light pressure from the stronger-than-expected UK activity data fading.

  • ECB-dated OIS contracts are little changed vs yesterday afternoon’s levels, with 22bps of cuts priced through the June meeting and 70bps of cumulative easing priced through the remainder of the year.
  • Today’s regional calendar includes industrial production figures from Italy and the minutes of the ECB’s April monetary policy meeting.
  • The topics of scheduled speeches from ECB’s Cipollone and Elderson don't focus on broader ECB policy, though markets will be watchful of several Fed speakers this afternoon.

  • Keep reading...Show less