Little net movement in GBP STIRs this morning with core global bonds stabilising away from yesterday...
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GBP STIRs are little changed this morning, with Bund & TY futures operating close to levels seen around Friday’s SONIA futures settlement window.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA Rate (bp) |
Jun-25 | 4.216 | +0.4 |
Aug-25 | 4.057 | -15.5 |
Sep-25 | 4.018 | -19.4 |
Nov-25 | 3.885 | -32.7 |
Dec-25 | 3.817 | -39.5 |
Feb-26 | 3.725 | -48.7 |
Mar-26 | 3.705 | -50.7 |
The trend condition in S&P E-Minis is unchanged, it remains bullish and the contract traded to a fresh cycle high last week. The recent break of 5993.50, the May 20 high and a bull trigger, highlights a resumption of the uptrend and maintains a price sequence of higher highs and higher lows. A continuation would open 6057.00 next, the Mar 3 high. Key support lies at 5789.75, the 50-day EMA.