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STIR: Several ECB Speakers Scheduled Today, Simkus Most Interesting

STIR
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Several ECB speakers are scheduled to speak today. Bank of Lithuania Governor Simkus noted on September 17 that the “likelihood of an October reduction is very small”. As such, we are interested to see how his views have changed since the recent flash PMI/inflation data and subsequent shift in consensus towards an October cut.

  • Simkus appears alongside Kazaks and Muller for a panel on “European and regional trends shaping capital markets”.
  • Meanwhile, Bank of France Governor Villeroy speaks on “Debt and investment” at 0730BST/0830CET. Villeroy has not spoken since September 13, but we expect him to express support for an ECB cut in October (he is typically dovish-leaning/centrist).
  • Centeno, Escriva and de Guindos are also scheduled to speak today, but we have already heard from them this week.
  • ECB-dated OIS price 22bps of cuts through October and 155bps of easing through the June 2025 meeting.
  • Euribor futures are a little off overnight lows, but remain -1.0 to -3.0 ticks below yesterday’s settlement levels.
  • The US labour market report headlines today’s macro calendar at 1330BST. 

 

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Several ECB speakers are scheduled to speak today. Bank of Lithuania Governor Simkus noted on September 17 that the “likelihood of an October reduction is very small”. As such, we are interested to see how his views have changed since the recent flash PMI/inflation data and subsequent shift in consensus towards an October cut.

  • Simkus appears alongside Kazaks and Muller for a panel on “European and regional trends shaping capital markets”.
  • Meanwhile, Bank of France Governor Villeroy speaks on “Debt and investment” at 0730BST/0830CET. Villeroy has not spoken since September 13, but we expect him to express support for an ECB cut in October (he is typically dovish-leaning/centrist).
  • Centeno, Escriva and de Guindos are also scheduled to speak today, but we have already heard from them this week.
  • ECB-dated OIS price 22bps of cuts through October and 155bps of easing through the June 2025 meeting.
  • Euribor futures are a little off overnight lows, but remain -1.0 to -3.0 ticks below yesterday’s settlement levels.
  • The US labour market report headlines today’s macro calendar at 1330BST. 

 

Keep reading...Show less