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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 FUTURES
STIR futures moving higher this morning, led by SONIA futures, reversing some of yesterday's big move lower.
- SONIA futures up to 15.0 ticks higher on the day (for Mar-23 contract), but most Red and Green contracts are still more than 10 ticks lower than Tuesday's close. Markets now pricing 56bp for the BOE's September meeting, 119bp for November and 166bp by year-end. The terminal rate sees 252bp priced for May 2023 (i.e. Bank Rate to 4.25%). The curve inverts thereafter
- Euribor futures are up to 6 ticks higher on the day, with moves since Tuesday's close now limited to 3.5 ticks. Markets price 54bp for September, 97bp for October and 130bp for December. Rates continue to move higher with no inversion and 190bp priced within 12-months.
- Eurodollar futures up to 7.5 ticks higher this morning, with Mar-23 and Jun-23 leading the way higher. Markets now price 67bp for the Fed's September meeting, 107bp by November, 127bp by year-end and a peak of 140bp by March, before the curve then inverts.
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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