FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SONIA futures a little lower; markets look to Reeves statement on Monday

SONIA
  • SONIA futures have taken a cue from Euribor futures this morning, with Reds / Greens / Blues down by up to 1.5 ticks softer on the open (but Whites have seen less of a move).
  • The main domestic news since yesterday's close has been widespread coverage ahead of Chancellor Reeves' statement to parliament on Monday. She report back on the state of the public finances as well as confirm the date of the Budget (we pencil in 30 October) and make an announcement on public sector pay (following the independent pay review body recommending doctors, nurses and teachers receive a higher-than-budgeted for 5.5% increase). Media reports have reported a shortfall of GBP19bln and across the spectrum (from the left-leaning Guardian to the right-leaning Telegraph) are noting that Reeves is likely to raise taxes in the autumn.
  • There is little more on the domeestic calendar today with US PCE data the highlight on the external calendar. UK markets are therefore likely to keep an eye on politics ahead of next week's MPC meeting. A 46% probability of a 25bp cut is currently priced by markets with 99bp priced by June 2025.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.