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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
A pullback in Federal Reserve implied hike pricing (4bp on the day for the June meeting) on negative US debt negotiations headlines dragged on ECB and BoE implied rates late in Friday's session. On the day:
- ECB terminal depo Rate pricing +0.4bp to 3.77% (53bp of further hikes left in the cycle). This was 4bp down from the session high. A June hike is priced at 23.1bp (flat on the session).
- BoE terminal Bank Rate pricing -0.3bp to 4.96% (46bp of further hikes left in the cycle), down 3bp from the session high which at one point threatened to break through the 2023 high water mark of 5.01%. A June hike seen 20.5bp (flat on the session but 1.5bp below day's high).
Source: BBG, MNI
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.
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