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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
BoE terminal rate pricing continues to fall following the softer-than-expected US inflation report, with OIS implying Mar 2024 Bank Rate at 6.26% (126bp of further hikes left in the cycle, -22.6bp on the day).
- If this holds, all of July's rise will have been wiped out - nearly one 25bp hike has been removed from the cycle today alone, and 40bp from the July peak. August MPC pricing is down to 42bp (from 46bp coming into the week).
- ECB pricing has been less impacted, off 3.2bp on the day but still holding on to the 4% level (at 4.01%, 51bp of further hikes are priced to Dec 2023).
Source: MNI, BBG
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.
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