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Market pricing

BOE

Decent repricing of hikes priced for this year following the PMI data. Probability of a 50bp hike by August reduced from around 65% at yesterday's close to 30% now. Still almost fully pricing 25bp hikes at every meeting this year though...

  • June: 27bp (from 31bp yesterday close)
  • August: 58bp (from 66bp)
  • September: 82bp (from 91bp)
  • November: 104bp (from 114bp)
  • December: 118bp (from 129bp)

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