Free Trial

Pause in rally; SONIA futures back to flat

STIR FUTURES
  • Euribor and Eurodollar futures are coming off their highs a little now, generally flat-1.5 ticks higher (with Eurodollar futures still up 2.5 ticks at the front-end. No real driver to stop the rally, but the negative sentiment thus far this morning was driven by widening Covid cases and lockdowns in China, together with a lack of PBoC action re MLF operations.
  • The SONIA strip had opened lower, but is now little changed on the day. We had noted earlier than this morning's stronger-than-expected labour market data would not be able to sustain SONIA much lower this morning.

To read the full story

Close

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.