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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.
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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
STIR: Euribor Slightly Weaker Alongside Bunds Ahead Of Schnabel
Ahead of Executive Board member Schnabel’s appearance at 1630BST, Euribor futures are +1.0 to -2.5 ticks lower through the blues, having weakened alongside Bunds today.
- ECB-dated OIS contracts have removed a few basis points of rate cut premium through the day, but still show 18bps of cuts through the September meeting and 44bps of easing through year-end.
- Schnabel will be participating in a panel on “Investing in Sovereignty – How to Create a New Single Market for a New World Order?”.
- Tomorrow’s calendar includes scheduled speeches from Stournaras, Makhlouf, Nagel and Panetta, though the descriptions of those appearances don’t appear immediately pertinent to current ECB monetary policy.
Meeting Date | ESTR ECB-Dated OIS (%) | Difference Vs. Current Effective ESTR Rate (bp) |
Jul-24 | 3.650 | -1.4 |
Sep-24 | 3.484 | -18.0 |
Oct-24 | 3.413 | -25.1 |
Dec-24 | 3.228 | -43.6 |
Jan-25 | 3.139 | -52.5 |
Mar-25 | 3.002 | -66.2 |
Apr-25 | 2.922 | -74.2 |
Jun-25 | 2.798 | -86.6 |
Source: MNI/Bloomberg. 2025 dates are estimated. |
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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.