June 16, 2022 11:11 GMT
- The language gets a bit of an upgrade, but the market had been looking for around a 1/3 chance of a 25bp hike today and there was already a lot priced in so SONIA futures still moved higher.
- SONIA strip sees Dec-22 move from 97.00 to spike to 97.165 and now trading at 97.08 (8 tick increase).
- Dec-23 from 96.815 to high of 96.90 and now 96.855 (4 tick increase).
- Dec-24 from 97.165 yo 97.25 high, now 97.21 (4.5 tick increase).
- Gilt futures from 111.70 to high of 112.20, now back to 111.75 (50 tick spike, but only 5 ticks higher than pre-BOE now).