Free Trial
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.
STIR
BoE and ECB peak rate pricing clawed back an intraday drop to finish only modestly lower Tuesday.
- ECB terminal depo Rate pricing -0.9bp to 3.91% (16bp of further hikes left in the cycle to Dec 2023). Alongside the rout in banking stocks after Italy unexpectedly introduced a windfall tax on bank profits, ECB peak rate pricing dropped as far as 4bp (3.88%) before recovering in the afternoon with bank stocks rounding out. As such pricing remained relatively unchanged on the day: 9bp of a hike is priced for September's meeting, with a cumulative 14bp through the next 2 decisions (each around 1bp lower on the day, in parallel with the peak rate).
- BoE terminal Bank Rate pricing -0.1bp to 5.78% (53bp of further hikes left in the cycle to Mar 2024). Pricing had dropped as far as 7bp (5.71%). Around 21bp is priced for the BoE's September hike, with 36bp through the next two meetings.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok