MNI: PBOC Net Injects CNY215.7 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1991 Weds; +0.73% Y/Y

MNI BRIEF: Aussie Q3 Wages Print At 0.8% Q/Q, 3.5% Y/Y

CHINA PBOC CONDUCTS CNY233 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1991 WEDS VS 7.1927

MNI: US Consumers See Lower Inflation, Better Jobs - NY Fed

Australia Q3 Wage Price Index +0.8% Q/Q

MNI: JAPAN OCT CORP GOODS PRICE INDEX +3.4% Y/Y; SEPT REV +3.1%

EZ/UK Bond Supply Calendar: IT, UK, DE, PO Auction Wednesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

STIR: Less Than 60bp Of BoE Cuts Priced Through '25

STIR
BulletMarketsFixed Income BulletsForeign Exchange Bullets

GBP STIRs Remain more hawkish than what was seen at yesterday’s settlement levels, with late Tuesday weakness in core global FI markets driving price action into the close.

  • BoE-dated OIS flat to 2bp more hawkish, showing 3bp of cuts for next month, 26bp through March, 44bp of cuts through June and 59bp of cuts through December ’25.
  • Nearly 25bp of cuts have been removed from pricing through Dec ’25 since the Budget.
  • Both domestic and global inflationary risks have factored into the hawkish move.
  • SONIA futures flat to -3.5.
  • BoE arch hawk Mann will speak this morning (09:45 London), although may not touch on monetary policy. Her Thursday appearance is likely to generate greater interest.
  • Elsewhere, spill over from the U.S. CPI data will also be eyed.

BoE Meeting

Keep reading...Show less
129 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.

GBP STIRs Remain more hawkish than what was seen at yesterday’s settlement levels, with late Tuesday weakness in core global FI markets driving price action into the close.

  • BoE-dated OIS flat to 2bp more hawkish, showing 3bp of cuts for next month, 26bp through March, 44bp of cuts through June and 59bp of cuts through December ’25.
  • Nearly 25bp of cuts have been removed from pricing through Dec ’25 since the Budget.
  • Both domestic and global inflationary risks have factored into the hawkish move.
  • SONIA futures flat to -3.5.
  • BoE arch hawk Mann will speak this morning (09:45 London), although may not touch on monetary policy. Her Thursday appearance is likely to generate greater interest.
  • Elsewhere, spill over from the U.S. CPI data will also be eyed.

BoE Meeting

Keep reading...Show less