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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
Rate cut-related comments from ECB Governing Council member Vujcic, who usually leans hawkish, has prompted a bid in core global FI markets and the Euribor strip, as well as receiver-side flows in ECB-dated OIS.
- Vujcic, speaking at an MNI event, noted his preference for 25bp steps when the cutting cycle gets underway, although suggested that 50bp cuts cannot be excluded if warranted by data.
- ECB-dated OIS contracts now price 143bps of rate cuts through 2024 (vs around 135bps immediately post-US CPI data and 138bps just before 1330GMT).
- The bid in EGBs reverses losses made following the firmer-than-expected US CPI data, while the front-end of the Euribor strip sees contracts running 1.0-5.5bp firmer on the day.
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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