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STIR: Euribor Strip Steepens Following Fed Decision

STIR
Foreign Exchange Technical AnalysisBulletMarketsFixed Income BulletsForeign Exchange Bullets

The Euribor strip has twist steepened versus yesterday’s settlement levels, with the whites 0.5 to 1.5 ticks higher and the greens/blues a few ticks lower. 

  • Euribor tracked moves in SOFR / USTs post-settlement, rising sharply after the Fed delivered a 50bp cut but subsequently paring gains through the press conference.
  • ECB-dated OIS price 7bps of easing through the October meeting and 38bps through the remainder of this year.
  • ECB Executive Board member Schnabel is scheduled to speak at 1000BST/1100CET today, before chairing a panel at 1540BST. Knot and Panetta are also scheduled today.
  • The BoE decision may provide some spillover potential at 1200BST.

 

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The Euribor strip has twist steepened versus yesterday’s settlement levels, with the whites 0.5 to 1.5 ticks higher and the greens/blues a few ticks lower. 

  • Euribor tracked moves in SOFR / USTs post-settlement, rising sharply after the Fed delivered a 50bp cut but subsequently paring gains through the press conference.
  • ECB-dated OIS price 7bps of easing through the October meeting and 38bps through the remainder of this year.
  • ECB Executive Board member Schnabel is scheduled to speak at 1000BST/1100CET today, before chairing a panel at 1540BST. Knot and Panetta are also scheduled today.
  • The BoE decision may provide some spillover potential at 1200BST.

 

Keep reading...Show less