Free Trial

Peak ECB/BoE Pricing Off Session Highs, Speakers Eyed Later


Terminal hike pricing in Europe has pulled back from session highs.

  • ECB terminal depo Rate pricing +0.5bp to 3.77% (53bp of further hikes left in the cycle): ECB peak pricing for Sept is up 0.5bp on the day but 2bp lower than earlier this morning. June ECB hike pricing has dipped 1+bp but is still close to fully pricing in a quarter-point hike (23.2bp).
  • BoE terminal Bank Rate pricing -1.5bp to 4.95%(45bp of further hikes left in the cycle): After a decent push higher Thursday, BoE hike pricing has faded slightly: June hike pricing stands at just over 20bp, vs 21.5bp yest afternoon after US data/Fed's Logan revived US June hike expectations. Peak BoE pricing is down 2bp after rising over 4bp Thurs.
  • Later this morning we get comments from BoE's Haskel and, toward the end of the session, ECB's Schnabel (Lagarde and de Cos are after hours), but given yesterday's reconsideration of the Fed pause narrative, Powell will be the focus of the session at 1100ET/1600BST.

Source: MNI, BBG

To read the full story


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.