ING: Rates Spark: The bottoming out of the 2Y Bund
2/9 09:30
“Markets are cooling further on the idea of another European Central Bank rate cut. At points starting this week, markets were discounting less than 15bp of additional easing over the next year. More strikingly, and looking slightly further ahead, the 1y1y forward ESTR OIS is less than 4bp below current ESTR fixings. The optimism seems […]...