May 16, 2024 11:42 GMT
Modest Dovish Reaction In SONIA As Greene Sounds More Centrist
STIR
SONIA & BoE-dated OIS see modest dovish moves in the wake of MPC member Green’s aforementioned comments, which read more centrist than her previous stance.
- SONIA futures last +0.5 to -1.5 through the Blues.
- BoE-dated OIS shows 14bp of cuts through June and 60bp of easing through year end, sticking within recent ranges.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
Jun-24 | 5.062 | -13.8 |
Aug-24 | 4.930 | -27.0 |
Sep-24 | 4.828 | -37.2 |
Nov-24 | 4.697 | -50.3 |
Dec-24 | 4.599 | -60.1 |
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