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STIR: Euribor Futures Off Highs Alongside Core FI, Holzmann Due

STIR

Euribor futures are flat to +2.0 ticks through the blues, off overnight highs alongside core FI. 

  • The ECB’s Holzmann delivers a lecture on “The normalization of the monetary policy in the euro area - challenges and opportunities” at 0800BST/0900CET.
  • His comments on Monday were in fitting with his hawkish stance, and we expect a similar rhetoric today.
  • ECB-dated OIS price 23bps of cuts through next Thursday’s meeting and 48bps through year-end.
  • Today’s regional calendar is light, leaving focus on US PPI data at 1330BST.

 

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Euribor futures are flat to +2.0 ticks through the blues, off overnight highs alongside core FI. 

  • The ECB’s Holzmann delivers a lecture on “The normalization of the monetary policy in the euro area - challenges and opportunities” at 0800BST/0900CET.
  • His comments on Monday were in fitting with his hawkish stance, and we expect a similar rhetoric today.
  • ECB-dated OIS price 23bps of cuts through next Thursday’s meeting and 48bps through year-end.
  • Today’s regional calendar is light, leaving focus on US PPI data at 1330BST.

 

Keep reading...Show less