EQUITIES: Focus is back on the European Cash Open
Feb-07 07:57
Focus is on the European Cash Equity open, Indices have seen some really impressive recovery this We...
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GILTS: Opening calls
Jan-08 07:56
Gilt Opening calls, 91.43/91.45.
EQUITIES: EU Cash opening calls
Jan-08 07:54
Estox 50: -0.08%, Dax: -0.13%, CAC: -0.23%, FTSE +0.12%, SMI +0.27%.
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 |
