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
RBA-dated OIS pricing is 6-15bps firmer for meetings beyond March ahead of tomorrow’s RBA Policy Decision. Nevertheless, a cumulative 48bps of easing remains priced by year-end.
- Aligned with the unanimous Bloomberg consensus anticipating a status quo decision, the market currently indicates a 0% likelihood of a 25bp hike or cut transpiring tomorrow.
- Concurrently, terminal rate expectations persist at the prevailing effective cash rate of 4.32%, having eliminated any prospect of further tightening since early December. To provide context, the market had factored in nearly 20bps of additional tightening leading up to the October CPI Monthly release in late November.
Figure 1: RBA-Dated OIS Terminal Rate Expectations Versus Cash Rate
Source: MNI – Market News / Bloomberg
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