BoE Hike Expectations Skyrocket Amid OPEC-Driven Oil Price Surge
The sterling money market curve is pricing in more than four Bank of England hikes amid high oil prices.
However, Senior UK & Eurozone Rates Strategist Michiel Tukker believes that expectations have turned too hawkish and offers value further out the curve.
Oil trades around $100, which has led to significant swings in sterling money market rates.