Over at Econostream, they have an interview with the ECB’s Stournaras where he offers a dovish take.

“Everything points in the direction of a cut in April,” he said “but this is not April.”

As for terminal rates, he said 1.50% was “too extreme” and that he sees 2.00% in light of German fiscal stimulus announcements.

That’s a dovish take on April as the market is at 64% but the terminal pricing is at 1.89% so that should balance it out.