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...Foreign fund managers have bought about $2bn in lira-denominated Turkish government bonds since the start of June, central bank data shows....
...The probability of the first ECB cut being delivered by June has fallen to 75 per cent, having been fully priced last month....
...Traders in swaps markets moved to price a 72 per cent probability that the Bank of England will deliver its first quarter-point rate cut by June, up from a 40 per cent chance before official figures on Wednesday...
...The probability of the first 0.25 percentage point cut being delivered by June rose from about 50 per cent to 60 per cent, with traders moving to price in three cuts by the end of the year....
...Traders in swaps markets moved to price a 67 per cent probability of the first interest rate cut by June, down from 75 per cent chance earlier in the day....
...Traders in swaps markets raised the probability of an interest rate cut by June to 63 per cent, from 58 per cent, ahead of official figures which showed headline annual inflation was 3.4 per cent in February...
...“But we’re going to need to see data like [inflation] next week that will corroborate the pushback to [a June cut].”...
...Rob Wood, economist at the consultancy Pantheon Macroeconomics, predicted that the BoE would start cutting interest rates from their 16-year high of 5.25 per cent from June....
...But she added the minority “agreed to rally to the consensus of the very, very large majority of members” who wanted to wait at least until June....
...Traders now place an 85 per cent probability on the Fed delivering its first 0.25 percentage point cut by June, up from 70 per cent early last week....
...The market-implied probability of the first rate cut by June rose from under 60 per cent to 65 per cent, while sterling nudged down 0.12 per cent against the dollar to $1.2777....
...The European Central Bank kept rates at an all-time high on Thursday while signalling it was considering a cut at its next meeting in June....
...On Thursday, the European Central Bank signalled it was still on course to deliver interest rate cuts in June....
...rally kicked off when US manufacturing data at the beginning of the month showed a larger than expected contraction, strengthening investors’ conviction that the Federal Reserve could start to cut rates in June...
...Markets now put the chance of an rate cut by June at just two in three. Last month they gave a 100 per cent probability to a reduction by June....
...Traders in swaps markets are pricing the first quarter-point rate cut by June, with 1.1 percentage points of cuts priced by the end of the year....
...Despite its recent gains, the pound remains well short of its post-pandemic high of $1.42 struck in June 2021....
...Traders price the probability of a quarter-point cut by June at about 60 per cent, roughly the same as before the data release....
...“Now you’ve got the ECB saying April is on the cards for a cut and if not definitely by June,” said William Vaughan, associate portfolio manager at Brandywine Global....
...Traders in swaps markets are pricing the first 0.25 percentage points ECB rate cut in April followed by a second in June and a third in July....
...He said his conviction about an ECB rate cut in June was “high”, while strong US data had caused the Fed to “backpedal from its hitherto clear desire to start to cut interest rates”....
...Markets now put a 70 per cent probability on the first rate cut being delivered by June, up from around 65 per cent before the Office for National Statistics revealed gross domestic product fell 0.3 per...
...Traders in swaps markets are betting that the first cut will come in May or June....
...Traders now place a 60 per cent probability of the UK’s first quarter-point interest rate cut being delivered in June, down from a 75 per cent chance ahead of official figures that showed average annual...
...It’s quite groovy; you’ll see people in there like Damien Hirst and Lily Allen but also drystone wallers....
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