AMERICAS OIL: Houston Ship Channel Closed to Traffic Amid Fog: Moran
Houston Ship Channel Closed to Traffic Amid Fog: Moran * Bloomberg reports the Houston Ship Channel...
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STIR: Dec Hawkish Extreme In Year-End BoE Pricing Holds, Before Fade To 49bp
The hawkish repricing in Dec ’25 BoE-dated OIS stopped at the hawkish extreme seen in December, pricing ~44bp of cuts through year-end, before a fade back to ~49bp.
- These levels probably look enticing for those that have a received bias, although continued worry surrounding the UK fiscal situation could limit dovish moves.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA Rate (bp) |
Feb-25 | 4.540 | -16.0 |
Mar-25 | 4.506 | -19.4 |
May-25 | 4.403 | -29.7 |
Jun-25 | 4.380 | -32.0 |
Aug-25 | 4.310 | -39.0 |
Sep-25 | 4.281 | -41.9 |
Nov-25 | 4.233 | -46.8 |
Dec-25 | 4.213 | -48.7 |
MNI:US NOV WHOLESALE INV -0.2%; SALES 0.6%
- MNI:US NOV WHOLESALE INV -0.2%; SALES 0.6%
EQUITY TECHS: E-MINI S&P: (H5) Support Remains Exposed
- RES 4: 6194.19 1.236 proj of the Aug 5 - Sep 3 - Sep 9 price swing
- RES 3: 6178.75 High Dec 6 and key resistance
- RES 2: 6163.75 High Dec 16
- RES 1: 6068.25/6107.50 High Jan 6 / High Dec 26
- PRICE: 5950.00 @ 14:35 GMT Jan 8
- SUP 1: 5911.25/5866.00 Low Jan 3 / Dec 20
- SUP 2: 5811.65 38.2% retracement of the Aug 5 - Dec 6 bull leg
- SUP 3: 5784.00 Low Nov 4
- SUP 4: 5698.25 50.0% retracement of the Aug 5 - Dec 6 bull leg
A bear threat in the S&P E-Minis contract remains present despite the most recent move higher. The reversal lower from the Dec 26 high, highlights the end of the Dec 20 - 26 correction. Attention is on 5866.00, Dec 20 low and a key S/T support. Clearance of this level would strengthen a bearish theme. Initial firm resistance is 6107.50, Dec 26 high. A breach of this hurdle would highlight a bull reversal and open key resistance at 6178.75, the Dec 6 high.
