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STIR: Over 70bp Of BoE Cuts Still Priced Through '25

STIR

Little net movement in GBP STIRs this morning.

  • BoE-dated OIS shows ~72bp of cuts through year-end.
  • We continue to look for cuts in February and May, with ~22.5bp and ~42.5bp of cuts currently priced through those meetings.
  • SONIA futures +0.5 to -1.0.
  • Little of note on the UK calendar this week, which will leave focus on the long end & broader macro cues.

BoE Meeting

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Little net movement in GBP STIRs this morning.

  • BoE-dated OIS shows ~72bp of cuts through year-end.
  • We continue to look for cuts in February and May, with ~22.5bp and ~42.5bp of cuts currently priced through those meetings.
  • SONIA futures +0.5 to -1.0.
  • Little of note on the UK calendar this week, which will leave focus on the long end & broader macro cues.

BoE Meeting

Keep reading...Show less