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SONIA strip is collapsing

SONIA
  • SONIA strip collapsing, no trigger, but looks like some technical breakout,
  • SFIM3 saw some momentum selling after breaking 95.66, and the strip is getting dragged lower, with Cable.
  • UK traders traders continue to price more aggressive hikes, while market participants in FX, look for a faster coming recession.
  • Euribor is also offered as Desks price more aggressive hikes for the UK and Europe.EU Traders now price a 1 point hike by October.

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