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STIR: Hawkish BoE Pricing Adjustments Continue, 39bp Of Cuts Seen Through Dec

STIR
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Spill over from the U.S. NFP data has seen the early hawkish repricing extend, with Thursday’s dovish move following comments from BoE Governor Bailey now more than reversed in most BoE-dated OIS contracts.

  • 23bp of cuts priced for November, 39bp of cuts priced through December and 118bp of cuts priced through June ’25.
  • SONIA futures are 0.5-18.5bp lower on the day.
  • Monthly economic activity data headlines next week’s limited UK calendar.

BoE Meeting

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Spill over from the U.S. NFP data has seen the early hawkish repricing extend, with Thursday’s dovish move following comments from BoE Governor Bailey now more than reversed in most BoE-dated OIS contracts.

  • 23bp of cuts priced for November, 39bp of cuts priced through December and 118bp of cuts priced through June ’25.
  • SONIA futures are 0.5-18.5bp lower on the day.
  • Monthly economic activity data headlines next week’s limited UK calendar.

BoE Meeting

Keep reading...Show less