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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.
SONIA
SONIA futures are the biggest movers of the day after the Bank of England left the door open to potentially larger hikes in upcoming meetings (see the four ways the language was strengthened here). The Dec-22 contract is 26.0 ticks lower on the day with all Whites and Reds down at least 17.0 ticks on the day (outside of the Jun-22 contract). Markets are now pricing 60bp for August (around a 40% probability of a 75bp hike with 50bp fully priced), 112bp by September and 189bp by year-end - this is up around 21bp from yesterday's pricing. See chart below. The terminal rate has increase by around 25bp, too, to around 3.50%.
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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