STIR: 60bp Of BoE Cuts Priced Through December, Macro Cues Eyed
Feb-07 07:51
GBP STIRs little changed to a touch more hawkish vs. late Thursday levels, with Tsy and Bund futures...
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STIR: 57bp Of BoE Cuts Priced Through '25
Jan-08 07:51
GBP STIRs little changed to a touch more dovish given the tick away from yesterday’s lows in core global FI markets.
- BoE-dated OIS flat to 1bp more dovish across ’25 contracts. 57bp of cuts priced through year-end, with ~17bp of cuts priced for February, ~21bp of cuts priced through March and ~33bp of easing showing through May.
- SONIA futures little changed to +2.0. Dec lows still untested through SFIU7.
- Little of note on the UK data calendar today, meaning focus will be centred on the long end and U.S. data.
- There is a busier schedule tomorrow, with the BoE DMP, S&P-KPMG-REC report on jobs and comments from BoE’s Breeden due.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA Rate (bp) |
Feb-25 | 4.521 | -17.9 |
Mar-25 | 4.487 | -21.3 |
May-25 | 4.371 | -32.9 |
Jun-25 | 4.330 | -37.0 |
Aug-25 | 4.238 | -46.2 |
Sep-25 | 4.211 | -49.0 |
Nov-25 | 4.153 | -54.8 |
Dec-25 | 4.131 | -56.9 |
MNI: FRANCE DEC CONSUMER SENTIMENT 89
Jan-08 07:45
- MNI: FRANCE DEC CONSUMER SENTIMENT 89
UK DMO UPDATE: Syndication Announcement
Jan-08 07:44
The DMO "announces that the sixth transaction of the 2024-25 syndication programme will be a re-opening of 4 3/8% Treasury Gilt 2040" (ISIN: GB00BQC82D08).
- Transaction planned to take place w/c January 20 "subject to demand and market conditions".
