MNI BRIEF: German Growth Stuck At 0.3% For Years To Come - IWH

MNI China Daily Summary: Thursday, January 16

MNI: ITALY DEC FINAL HICP 0.1% M/M, 1.4% Y/Y

MNI BRIEF: China Shipbuilding Up 13.8% In 2024

MNI: PBOC Net Injects CNY336.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1881 Thurs; -2.18% Y/Y

MNI: GERMANY FINAL DEC HICP 2.8% Y/Y, 0.7% M/M

MNI: UK NOV GDP 0.1% M/M, 0.0% 3M/3M, 1.0% 3M Y/Y

MNI: GERMAN DEC CPI +2.2 % Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

STIR: RBNZ Dated OIS Softer Today But Still Firmer Than Friday

STIR
BulletMarketsFixed Income Bullets

RBNZ-dated OIS pricing is 1–5bps softer across meetings today, with late 2025 leading the decline.

  • 47bps of easing is priced for February, with a cumulative 107bps by November 2025.
  • Despite today’s softness, pricing remains 4–24bps firmer compared to pre-US Payrolls levels last Friday. Notably, the expected OCR for November has firmed by 24bps since Friday’s close.
  • This week’s firming was primarily driven by the Q4 NZIER Business Opinion Survey (QSBO). To sum up, the QSBO survey showed that a net 16% of businesses expect the economy to improve, vs 1% expecting it to get worse in Q3. This was the first positive outlook since Q2 2021. After seasonal adjustment, a net 9% of businesses expect the economy to improve, vs a revised 4% expecting deterioration in Q3. 

 

Keep reading...Show less
142 words

To read the full story

Close

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.

RBNZ-dated OIS pricing is 1–5bps softer across meetings today, with late 2025 leading the decline.

  • 47bps of easing is priced for February, with a cumulative 107bps by November 2025.
  • Despite today’s softness, pricing remains 4–24bps firmer compared to pre-US Payrolls levels last Friday. Notably, the expected OCR for November has firmed by 24bps since Friday’s close.
  • This week’s firming was primarily driven by the Q4 NZIER Business Opinion Survey (QSBO). To sum up, the QSBO survey showed that a net 16% of businesses expect the economy to improve, vs 1% expecting it to get worse in Q3. This was the first positive outlook since Q2 2021. After seasonal adjustment, a net 9% of businesses expect the economy to improve, vs a revised 4% expecting deterioration in Q3. 

 

Keep reading...Show less