MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% In November

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

STIR: SONIA Futures Continue To Underperform Euribor

STIR

SONIA futures continue to underperform Euribor counterparts through the blues, as the potential for above-expected public sector pay awards - and the subsequent impact this may have on BoE easing – weighs on the space.

  • The reds lead the selloff in SONIA, with SFIZ5 paring all of last week’s gains today, currently -7.0 ticks at 96.070. ERZ5 in contrast remains above last Monday’s levels, though is still -5.5 ticks at 97.445.
  • BoE-dated OIS have seen some modest hawkish repricing through the day, with 43bps of easing priced through the remainder of this year (vs 46bps at the end of last week).
  • OIS show a ~35% implied probability of an August BoE cut, with Wednesday’s PMI data the key focus as the BoE enters its pre-meeting quiet period.
  • ECB-dated OIS show 44bps of easing through 2024 and 19bps through the next meeting in September. Today’s ECB speak did not move the needle meaningfully.
  • Tomorrow sees ECB Chief Economist Lane deliver opening remarks at a joint ECB/IMF conference at 0800BST/0900CET. 
BulletFixed Income BulletsForeign Exchange Bullets
BulletFixed Income BulletsForeign Exchange Bullets

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.