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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.
BOE
- There were some huge moves in the short sterling strip last week and these have been followed up this morning with more large moves after BOE Governor Bailey sounded concerned about rising inflation expectations and that the Bank would have to act if they rose. Since the weekly close on Friday 8 November, the Dec21 contract is now over 30 ticks lower and pretty much fully pricing in rates at 0.50% by year end (40bp of hikes). Other Whites and Reds are between 35-47 ticks lower, led by Sep22 down 47 ticks). Rates of 1.25% are pretty much fully priced by the end of next year. The curve then inverts through the Greens (Sep24-Sep23 spread is -10.5 ticks) and is then almost completely flat through the Blues. To us, these moves seem overdone and although we think that a November hike is looking increasingly likely, the MNI Markets team still looks for the first hike in December.
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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