OIL: Crude Recovers and Dollar Weakens on More Positive Tariff Sentiment
Feb-13 15:19
That's confirmation of what Javers had been saying on air on CNBC, so effectively meaning the news conference today will not be an announcement on the immediate installation of reciprocal tariffs, which are to be time-delayed by ~six weeks and presumably mean there's space for negotiations.
-Less negative tariff sentiment appears to be contributing to crude recovery along with weaker dollar
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
STIR: BoE Pricing Moves Towards 40bp Of Cuts For '25
Jan-14 15:06
GBP STIRs are a little more hawkish on the day.
- 40.5bp of cuts priced through year-end vs. last week’s extreme of ~39bp, ~2bp more hawkish on the day.
- SONIA futures little changed to -2.5, with some of last week’s lows pierced.
- Chancellor Reeves did little to placate fiscal concerns earlier today.
- CPI data eyed tomorrow, click for our full preview.
- BoE dovish dissenter Taylor will speak later on Wednesday (16:30 London).
- It will be interesting to see whether Taylor explicitly addresses the change in market prices, given the moves since the release of the BoE’s MPR forecasts.
- The views of the three dissenters in the December MPC Minutes described the “sluggish demand and a weakening labour market, now and in the year ahead, both of which would see further downward pressure on demand, wages, and prices.” And noted that “given the evolving balance of risks, a less restrictive policy rate was warranted” in the view of the three dissenting members.
| BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA Rate (bp) |
| Feb-25 | 4.547 | -15.3 |
| Mar-25 | 4.531 | -16.9 |
| May-25 | 4.451 | -24.9 |
| Jun-25 | 4.416 | -28.5 |
| Aug-25 | 4.354 | -34.6 |
| Sep-25 | 4.347 | -35.3 |
| Nov-25 | 4.306 | -39.4 |
| Dec-25 | 4.295 | -40.5 |
EQUITIES: EU Bank more outright Put buyer
Jan-14 15:06
SX7E (21st Mar) 130p, bought for 0.80 in 6k.
EQUITIES: EU Bank put buyer
Jan-14 15:03
SX7E (21st Feb) 145p, bought for 1.50 in 10k.
