CHINA: Xi-"There Will Be No Winners In Tariff War"
Apr-11 07:50
(MNI) London - State-run Xinhua carrying comments: http://www.news.cn/politics/leaders/20250411/87f2...
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US: SFR put condor seller
Mar-12 07:48
SFRJ5 95.87/95.81/95.75/95.68p condor sold at 1.5 in 11.5k.
STIR: Just Under 60bp Of BoE Cuts Priced Through Year-End
Mar-12 07:41
No real reaction in GBP STIRs to Tuesday’s late tariff developments, with Bunds recovering all of the sell off that followed signs of a moderation in U.S.-Canada tariffs.
- Meanwhile, domestic drivers are lacking.
- BoE-dated OIS essentially unchanged across ’25 meetings, ~19bp of easing showing through May, ~25.5bp through June and ~59bp through year-end.
- SONIA futures flat to +2.0.
- Little of note on the UK calendar until Friday’s monthly economic activity data, leaving focus on macro & cross-market cues.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA Rate (bp) |
Mar-25 | 4.455 | +0.0 |
May-25 | 4.266 | -18.9 |
Jun-25 | 4.199 | -25.6 |
Aug-25 | 4.052 | -40.3 |
Sep-25 | 4.000 | -45.4 |
Nov-25 | 3.897 | -55.8 |
Dec-25 | 3.868 | -58.7 |
USD: A positive start for the Dollar ahead of the CPI
Mar-12 07:40
- A green start for the Dollar ahead of the awaited CPI, Trump again reversed course on his trade war threat against Canada, but the CAD is still the second worst performer within G10, behind the Yen, albeit short of the 1.4521 printed high Yesterday.
- A break through that level would open to 1.4543, the March high in USDCAD.
- USDJPY has recovered close to 200 pips from Yesterday's low of 146.54, its lowest since Early October.
- Small resistance is seen at 148.65, followed by 149.33, and 149.88 20-day EMA.
