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Natixis: Pay ECB April-24 OIS

STIR

Natixis write the mark’s ECB “rate cuts scenario for 2024 is now close to pricing 100bp which is not in line with our scenario (25bp cut in September ’24 with another 25bp cut in December ‘24).”

  • “We consider that 1) the market underestimates the risk of a longer disinflation process (especially in core HICP) that could force central banks on hold for longer (“higher for longer” scenario) and 2) has priced cuts too early.”
  • “Therefore, we recommend paying the April ECB meeting OIS.”
  • They issued the recommendation with the contract trading at 3.71%, targeting a move to 3.90%, with a stop set at 3.60%.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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