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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
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Emerging Markets
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI POLITICAL RISK - Trump Announces Raft Of Key Nominations
BRIEF: EU-Mercosur Deal In Final Negotiations - EC
MNI BRIEF: Limited Economic Impact Of French Crisis - EC
MNI US MARKETS ANALYSIS - Ouster of Barnier Leaves Little Dent
Soft GBP Data Provides Fresh Dovish Impulses
The weaker-than-expected run of UK monthly GDP and economic activity data provides fresh dovish impulses across the UK STIR space, with total BoE cuts through ’24 now marked at ~94bp, representing a fresh recent extreme.
- More immediately, ~14bp of cuts are now priced through the end of the May MPC, with the first full 25bp cut more-than-fully discounted come the end of the June ’24 MPC.
- SONIA futures show -0.25 to +6.0 through the blues, with the back of the reds and front of the greens outperfroming.
- Conservative Party rifts continue to dominate local headline flow, while recent comments from Chancellor Hunt pointed to the “inevitably” of subdued growth while interest rates bring down inflation.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
Dec-23 | 5.205 | +1.7 |
Feb-24 | 5.210 | +2.2 |
Mar-24 | 5.149 | -3.9 |
May-24 | 5.049 | -13.9 |
Jun-24 | 4.906 | -28.2 |
Aug-24 | 4.729 | -45.9 |
Sep-24 | 4.562 | -62.6 |
Nov-24 | 4.387 | -80.1 |
Dec-24 | 4.250 | -93.8 |
To read the full story
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Please enter your details below.
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.