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STIR: Over 50bp Of BoE Cuts Still Priced Through Year-End

STIR

Cross-market cues remain at the fore for GBP rates.

  • Event risk set to ramp up over the next couple of days, with domestic CPI & the latest Fed decision due tomorrow, followed by the BoE decision on Thursday.
  • SONIA futures +3.0 to -0.5 this morning.
  • BoE-dated OIS little changed to 2bp more dovish, showing ~5bp of cuts for this week’s MPC, ~53.5bp of cuts through year-end and ~143bp of easing through June ’25.
  • Upticks in equities and crude oil help limit any dovish moves in core global FI markets early today.

BoE Meeting

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Cross-market cues remain at the fore for GBP rates.

  • Event risk set to ramp up over the next couple of days, with domestic CPI & the latest Fed decision due tomorrow, followed by the BoE decision on Thursday.
  • SONIA futures +3.0 to -0.5 this morning.
  • BoE-dated OIS little changed to 2bp more dovish, showing ~5bp of cuts for this week’s MPC, ~53.5bp of cuts through year-end and ~143bp of easing through June ’25.
  • Upticks in equities and crude oil help limit any dovish moves in core global FI markets early today.

BoE Meeting

Keep reading...Show less