Gilt calls, 97.65/97.71 range
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Estox 50: +0.38%, Dax: +0.35%, CAC: +0.62%, FTSE +0.64%, SMI +0.40%.
Today reference 135.12:
The prospect of a 50bp Fed cut tomorrow has kept Euribor futures underpinned, currently little changed versus yesterday’s settlement. However, futures generally remain just short of last week’s multi-month highs, after President Lagarde struck a somewhat cautious tone at the ECB’s September meeting.
Meeting Date | ESTR ECB-Dated OIS (%) | Difference Vs. Current Cut-adjusted Effective ESTR Rate (bp) |
Oct-24 | 3.343 | -6.9 |
Dec-24 | 3.038 | -37.5 |
Jan-25 | 2.805 | -60.7 |
Mar-25 | 2.474 | -93.9 |
Apr-25 | 2.250 | -116.2 |
Jun-25 | 2.038 | -137.4 |
Jul-25 | 1.932 | -148.0 |
Sep-25 | 1.835 | -157.7 |
Source: MNI/Bloomberg. |