Free Trial
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.
STIR
Despite a modest spike following the well-above-consensus Composite PMIs for the Eurozone and UK, and another boost in the afternoon with a strong US PMI, BoE and UK rate expectations faded those moves and will close Friday relatively unchanged.
- Still, BoE terminal implied rates are up 20bp on the week following strong wage / inflation data readings (which led several sell-side analysts to up their BoE expectations, see here).
- ECB peak rate expectations rose by just 6bp this week, by comparison. Focus will be on prelim eurozone national CPIs for April out late next week.
- May meeting hike prospects are still firmly for 25bp hikes, though in the ECB's case, there is still a fairly strong chance implied of a 50bp raise (around 30%).
Today's terminal pricing changes (both for September):
- ECB terminal Depo rate pricing flat at 3.83%
- BoE terminal Bank Rate pricing -1.8bp to 4.96%
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok