Free Trial

Lower after German PPI

STIR FUTURES
  • Euribor futures down around 5-6 ticks across most of the curve following the higher than expected German PPI print this morning. Markets continue to price 71bp for the October ECB meeting and now look for a cumulative 138bp by December (up from 137bp yesterday). By July 2023 markets look for 205bp of hikes, up from 201bp at yesterday's close.
  • The SONIA strip is also being pulled lower and is around 4-6 ticks down on the day. Markets price 65bp for this week's MPC meeting with pricing by year-end of just under 200bp (so 2x75bp and 1x50bp hike).
  • The Eurodollar strip is little changed on the day.

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.