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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
Bunds and Gilts have fully bounced back after an initial US Treasury-led drop on the strong US job openings data.
- While Fed hike pricing is higher for the next two meetings (by 2bp Jun and 4bp Jul respectively), that hasn't translated across the Atlantic, where Jun/Jul hike pricing has been steady.
- If anything ECB/BoE terminal expectations have dipped a little in the past hour with he softer-than-expected overall eurozone May prelim inflation prints continuing to dampen tightening fervour. On the day:
- BoE terminal Bank Rate pricing -14bp to 5.41% (91bp of further hikes left in the cycle) - 3bp lower than pre-JOLTS/Chicago PMI.
- ECB terminal depo Rate pricing -3.6bp to 3.73% (48bp of further hikes left in the cycle)
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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