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STIR: No Change In BoE Pricing During Greene's Speech

STIR
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No tangible movement in BoE pricing following comments from BoE’s Greene.

  • We have already noted that the speech suggested that Greene may vote for a cut in November, although she is still more hawkish than the average MPC member.
  • Modest subsequent hawkish repricing seems to come alongside weakness in wider core global bonds.
  • 26bp of cuts priced for November, 41bp of cuts priced for year-end and ~125bp of cuts showing through June ’25.
  • SONIA futures give up the post-settlement uptick, last flat to -0.5.

BoE Meeting

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No tangible movement in BoE pricing following comments from BoE’s Greene.

  • We have already noted that the speech suggested that Greene may vote for a cut in November, although she is still more hawkish than the average MPC member.
  • Modest subsequent hawkish repricing seems to come alongside weakness in wider core global bonds.
  • 26bp of cuts priced for November, 41bp of cuts priced for year-end and ~125bp of cuts showing through June ’25.
  • SONIA futures give up the post-settlement uptick, last flat to -0.5.

BoE Meeting

Keep reading...Show less