May 07, 2024 13:51 GMT
Most Of Dovish Move holds In GBP STIRs
STIR
GBP STIR markets sit a little off dovish session extremes, with the U.S. Manheim vehicle price data and downtick in crude oil futures having little net impact in recent trade (oil has since recovered from multi-week lows).
- That leaves SONIA futures -0.25 to +10.5 through the blues.
- BoE-dated OIS shows ~54.5bp of ’24 cuts, with ~24bp of easing priced through the Aug meeting vs. a little over 25bp earlier today.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
May-24 | 5.198 | -0.2 |
Jun-24 | 5.093 | -10.7 |
Aug-24 | 4.957 | -24.3 |
Sep-24 | 4.869 | -33.1 |
Nov-24 | 4.746 | -45.4 |
Dec-24 | 4.654 | -54.6 |
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