MNI China Daily Summary: Wednesday, November 27

MNI: GERMANY GFK DECEMBER CONSUMER CLIMATE -23.3

MNI BRIEF: BOJ’s JGB Unrealised Loss Rises To JPY13.7 Tlrn

RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI BRIEF: China Profits Fall In October Y/Y

MNI: FRANCE NOV CONSUMER SENTIMENT 90

RBNZ SEES RISK OF MID-TERM INFLATION VOLATILITY

MNI: RBNZ CUTS OCR 50BP TO 4.25%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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STIR: Hawkish Schnabel Felt In EUR STIRs, 147bp Of Cuts Priced Through Dec 25

STIR
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Euribor futures pull back from highs as ECB Executive Board member Schnabel gives a hawkish interview to BBG, pointing to "limited room" for further rate cuts, last -2.0 to +1.0.

  • ECB-dated OIS now prices 31bp of cuts for next month and 147bp through Dec ’25. Contracts sit 1-4bp more hawkish on the day.
  • Dec ’25 meeting pricing showed 151bp of cuts earlier today.
  • Schnabel had previously been of the view that the ECB "mustn't rush further rate cuts" and used the word "gradual" to describe the approach to removing restrictive policy.

ECB Meeting

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Euribor futures pull back from highs as ECB Executive Board member Schnabel gives a hawkish interview to BBG, pointing to "limited room" for further rate cuts, last -2.0 to +1.0.

  • ECB-dated OIS now prices 31bp of cuts for next month and 147bp through Dec ’25. Contracts sit 1-4bp more hawkish on the day.
  • Dec ’25 meeting pricing showed 151bp of cuts earlier today.
  • Schnabel had previously been of the view that the ECB "mustn't rush further rate cuts" and used the word "gradual" to describe the approach to removing restrictive policy.

ECB Meeting

Keep reading...Show less