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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.
SHORT-STERLING
- Short sterling seeing some decent downside moves. The Mar-22 contract had been down about 3 ticks on the day going into the decision, and is now down 9.5 ticks.
- In terms of what this means for the curve, a February hike is now around 90% priced.
- Greens and Blues are little changed following the decision with the rest of the Whites down 7.5-8.5 ticks and Reds down 3.5-6.0 ticks.
- Remember that BOE holds a gilt maturing in March (of which it holds GBP25.1bln nominal, GBP27.9bln at the price the BOE paid). If Bank Rate is 0.50% in February (i.e. if there is another 25bp hike in February) those proceeds will not be reinvested.
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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