© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PBOC Drains Net CNY105 Bln Tues; Rates Unchanged

CHINA PBOC INJECTS CNY319 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1406 TUES VS 7.1612

UK Timeline of Key Events (All Times in GMT)

Eurozone Timeline of Key Events (All Times in GMT)

MNI: UK AUG-OCT MEDIAN PAY AWARDS +6% :XpertHR

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Terminal Rate Expectations Soften In $-Bloc & Easing Expectations Increase

STIR
BulletMarketsFixed Income NewsHomepage

Market expectations for terminal interest rates in the $-bloc have softened over the past two weeks.

  • Terminal rate expectations and the cumulative tightening currently stand at: 5.33%, 0bps (FOMC); 5.02%, +2bps (BOC); 4.43%, +11bps (RBA); and 5.54%, +4bps (RBNZ).
  • Easing expectations have also gathered momentum outside of Australia, with June’24 easing at 33bps, 30bps and 23bps in the US, Canada and NZ respectively. By contrast, Australia has 5bps of easing priced by Jun'24.

Figure 1: $-Bloc STIR

Keep reading...Show less
83 words

To read the full story

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.

Market expectations for terminal interest rates in the $-bloc have softened over the past two weeks.

  • Terminal rate expectations and the cumulative tightening currently stand at: 5.33%, 0bps (FOMC); 5.02%, +2bps (BOC); 4.43%, +11bps (RBA); and 5.54%, +4bps (RBNZ).
  • Easing expectations have also gathered momentum outside of Australia, with June’24 easing at 33bps, 30bps and 23bps in the US, Canada and NZ respectively. By contrast, Australia has 5bps of easing priced by Jun'24.

Figure 1: $-Bloc STIR

Keep reading...Show less