MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Markets pricing around a 50/50 probability of a 75bp or 100bp Nov hike

SONIA
  • STIR futures are up to 12 ticks higher today, helped largely by comments from BOE Deputy Governor Broadbent. He implied that risks to market rates are to the downside while also noting that if rates rose in line with market pricing, GDP would be around 4.5ppt by the end of 2025.
  • Markets are now pricing in around 88bp for the November MPC meeting (roughly a 50/50 chance of 75bp or 100bp), down from a peak above 150bp (although some of that included the probability of an intermeeting emergency hike). Yesterday we were around 7bp higher and we had been trading roughly between 110-120bp after the Bank denied that there would be an emergency rate hike and as it conducted its temporary bond purchases.
  • A cumulative 161bp is priced by the December meeting, down from a peak in excess of 250bp. Markets also see the terminal rate a little above 5.00% (from around 5.25% yesterday and a peak of over 6.25%.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.