CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

STIR: Euribor Futures Pare US CPI-Inspired Losses

STIR
BulletMarketsFixed Income BulletsForeign Exchange Bullets

Euribor futures have pared a good deal of US CPI-inspired losses, but remain 1.0 to 3.5 ticks below pre-data levels at typing. ERZ6 registered an intraday low of 97.965, but has since recovered back to 98.000.

  • ECB-dated OIS price 62bps of easing through the remainder of 2024, sticking to recent ranges. This implies a ~50/50 probability of three 25bp cuts this year.
  • The MNI Policy Team’s latest sources piece continues to point to quarterly cuts as the base case amongst policymakers.
  • Our ECB preview ahead of tomorrow’s meeting (where a 25bp cut is unanimously expected and fully priced) is here.

 

Keep reading...Show less
109 words

To read the full story

Close

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.

Euribor futures have pared a good deal of US CPI-inspired losses, but remain 1.0 to 3.5 ticks below pre-data levels at typing. ERZ6 registered an intraday low of 97.965, but has since recovered back to 98.000.

  • ECB-dated OIS price 62bps of easing through the remainder of 2024, sticking to recent ranges. This implies a ~50/50 probability of three 25bp cuts this year.
  • The MNI Policy Team’s latest sources piece continues to point to quarterly cuts as the base case amongst policymakers.
  • Our ECB preview ahead of tomorrow’s meeting (where a 25bp cut is unanimously expected and fully priced) is here.

 

Keep reading...Show less