MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Wage Data Counters Wider Bond Cheapening In Early SONIA Trade

STIR

Domestic labour market data (particularly the wage dynamics, detailed elsewhere) helps take some of the edge off the weakness seen in wider core global FI markets seen since yesterday’s SONIA settlement window.

  • That leaves SONIA futures flat to +2.5 through the blues.
  • BoE-dated OIS runs 1bp softer to 1bp firmer through ’24 MPC contracts, ~132.5bp of cuts are priced through '24 at present.
  • Outside of the data, local news flow has seen some focus on the drivers of PM Sunak’s poor showing in the opinion polls, but there was nothing particularly shocking/new there. Labour maintains a comfortable lead in the polls ahead of the next general election.
  • BoE Governor Bailey will appear in front of the Lords Economic Affairs Committee later today (15:00 London).
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Feb-245.196+0.7
Mar-245.128-6.1
May-244.955-23.3
Jun-244.726-46.3
Aug-244.461-72.7
Sep-244.244-94.4
Nov-244.024-116.4
Dec-243.863-132.5
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBank Of England (BOE) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBank Of England (BOE) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.