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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 markets are mixed this morning with Euribor futures 0.5 ticks lower across the strip, Eurodollar futures 1-4 ticks higher while the SONIA strip is 1-3 ticks higher.
- For the US, markets now price around 52bp for June, 98bp cumulatively by July, 135bp by September and 186bp by year-end (5 meetings). The year-end figure is around 30bp lower than it was ahead of last week's Fed decision.
- For the UK, 27bp is priced for June, 53bp by August, 82bp by September and 118bp by year-end. This is around 15bp lower than before last week's MPC meeting. To us, UK pricing for September onwards looks a little optimistic and stands out over the US and Eurozone as having too much priced in.
- For the Eurozone, 4bp is priced for June, 21bp for July, 50bp by September and 89bp is priced by year-end. The year-end figure is roughly in the middle of the range it has been trading in since the beginning of the month.
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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