May 15, 2024 14:16 GMT
SONIA Futures Hold Higher In Wake Of U.S. Data
STIR
SONIA futures also tick back from initial post-U.S. data highs but are still mostly firmer on the day. Contracts are last flat to +9.5, with the late reds and early greens leading the move.
- SFIZ5 & Z6 hit fresh muti-week highs before the fade away from best levels.
- BoE dated OIS shows 13bp of cuts through the June MPC and ~58.5bp of cuts through year end, with ’24 contracts running 1.0-3.5bp softer on the day.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
Jun-24 | 5.072 | -12.8 |
Aug-24 | 4.941 | -25.9 |
Sep-24 | 4.840 | -36.0 |
Nov-24 | 4.710 | -49.0 |
Dec-24 | 4.614 | -58.6 |
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