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/STIR: Modest Initial Reaction To ECB Statement, Market Takes As Dovish At The MArgin

EGBS

A very modest initial core FI reaction to the post-decision ECB statement, with the minor dovish feel in light of the tweaks to the language surrounding inflation and lack of pushback vs. market pricing probably promoting the modest outright bid and slight peripheral spread narrowing. End of ’24 ECB-dated OIS pricing softens by a couple of bp.

  • More focus was always going to fall on the post-meeting press conference and any questioning/subsequent degree of pushback surrounding the market pricing of rate cuts (which the ECB tried to push back on through numerous pre-quiet period addresses).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income Bullets

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