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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
STIR FUTURES
- Hikes implied by FOMC-dated Fed Funds are ending the week with a 50bp hike for May 4 still locked in, shifting up from 49.5bp heading into Easter to 52bp now (given the green light by Powell at an IMF panel).
- There have been some wild changes further out though. Pricing for the June meeting now implies a 96% chance of 125bps of hikes over the two meetings, up from 28%. Analysts have started to call for similar, with Nomura looking for two 75bp hikes in June and July after a 50bp in May.
- Beyond that, there is now a cumulative 200bps priced for Sep (from 166bp) and 250bps for Dec (from 215bp).
Cumulative hikes priced for FOMC meetings from Fed Funds futures (%pts)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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