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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.
STIR FUTURES
Some upside pressures across the SONIA strip and Euribor Whites / Reds this morning with little movement from the Eurodollar strip since it fell a little just after the US close.
- SONIA strip up to 3.0 ticks higher around the 2-year part of the curve, with a small flattening before that point and steepening after (the steepening removing some of the inversion). Markets still pricing in 34bp for May (around 1/3 chance of a 50bp hike with 25bp fully priced), 105bp priced by September (4 meetings) and 131bp priced by year-end (6 meetings).
- Euribor Whites / Reds up to 1.5 ticks higher but Greens / Blues largely unch / 0.5 ticks lower. Pricing for September remains in the 20-25bp range at 22bps (just under 90% of a 25bp hike priced) with 44bp priced by year end.
- Eurodollar futures up to 4 ticks lower, but the moves all happened by 22:00GMT last night with little movement since. Markets price 44bp for May, 152bp by September (4 meetings) and 193bp by year end (6 meetings).
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.
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