ECB is set to embark on its rate hikes on Thurday

Monday, 4 April 2011 08:15

The ECB is set to embark on its rate hikes on Thurday with 25bps expected.

Euribor interest rate futures are pricing in at least 4 hikes to year end. These are already priced into the forward and swap markets but should still see some more appreciation in the Euro/$ in the coming months.

Credit swaps on Portugal dropped 16bps to 564.7 after the government sold 1.6 bn euros of bonds due in June 2012.

Contracts on Spain were 8bps lower at 226.4.

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