HUNGARY: Government to Discuss Household Energy Bill Subsidy
Jan-28 08:04
* Prime Minister Viktor Orban leads a weekly cabinet meeting, where the government will discuss bo...
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GILTS: Seen Higher at Open
Dec-29 07:59
Desks calling futures 91.25-35 at the open.
EQUITIES: Firmer Cash Opens Seen In Europe & UK
Dec-29 07:58
Futures point to upticks at the European & UK cash equity opens:
- Euro Stoxx 50 futures: +0.45%
- DAX futures: +0.33%
- CAC 40 futures: +0.27%
- FTSE MIB futures: +0.21%
- FTSE 100 futures: +0.15%
- SMI futures: +0.17%
STIR: GBP Short End Continues To Show 1.5 Cuts for '26
Dec-29 07:54
Dovish adjustments in the GBP short end given the previously covered bid in wider core global FI markets.
- BoE-dated OIS contracts little changed to 2bp more dovish across ’26 meetings, with the next cut not fully discounted until the end of the June MPC and ~39bp of easing priced through November.
- SONIA futures flat to +2.5.
- Terminal rate pricing continues to hover around 3.35%.
- Little in the way of meaningful UK news flow since markets closed for Christmas, with broader geopolitical matters at the fore.
- No tier one UK data releases are due until the new year.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA (bp) |
Feb-26 | 3.713 | -1.2 |
Mar-26 | 3.622 | -10.3 |
Apr-26 | 3.508 | -21.7 |
Jun-26 | 3.441 | -28.3 |
Jul-26 | 3.376 | -34.9 |
Sep-26 | 3.360 | -36.5 |
Nov-26 | 3.338 | -38.7 |
Dec-26 | 3.346 | -37.9 |
